1. Upward trend
The Covid-19 pandemic that unleashed catastrophic consequences to the hospitality sector seems to have calmed down, at least for the Marriott International, which has announced a strong 2021 with positive developments in terms of room growth and new signings.
We are pleased with our strong 2021 development results, and look forward to continuing to drive value for our owners and franchisees throughout the recovery and beyond with our quality brands, our comprehensive business support systems and industry-leading loyalty platform.Stephanie Linnartz, President at Marriott International
The multinational company operates, franchises, and licenses lodging including hotel, residential, and timeshare properties. “Marriott has the benefit of sitting at the intersection of information and insights from a global community of developers, properties, owners and franchisees, as well as the more than 160 million members of our Marriott Bonvoy travel program,” added Linnartz.
2. Key trends for 2022
The luxury hotel chain also offered insight into some key trends that are likely to shape the industry in 2022. These include travellers’ demand for luxury travel experiences and an overall estimated grow of leisure travellers, who are expected to carry on leading the industry’s post-pandemic rebound in 2022.
Leisure transient global room nights were the first to recover to 2019 pre-pandemic levels in the second quarter of 2021.Marriott International
Additionally, the all-inclusive resort segment continues to be very high-growth and gain further momentum in terms of consumer demand. Also, extended stay options have become even more popular among leisure travellers, due to the ongoing remote-working trend and easier integration of work time into leisure vacations.
Hotel conversions — the redevelopment or conversion of a hotel to an alternative asset type — have been a critical driver of rooms growth amid the disruption of Covid-19. Marriott’s conversions accounted for 27% of its 2021 room signing, with more than 18,000 conversion rooms added last year.
In 2022, conversions are expected to include the JW Marriott Hotel São Paulo in Brazil, The Brix, Autograph Collection in Trinidad and Tobago, The Serangoon House, Singapore, A Tribute Portfolio Hotel and a Delta Hotels by Marriott City Center Doha in Qatar.
4. International expansion
Marriott continues its rapid global expansion into new markets, having signed 256 agreements representing close to 51,000 rooms in international locations outside the US and Canada in 2021. Last year, Marriott expanded into Antigua and Barbuda, Belize, Bermuda, Grenada, St. Lucia, and Turks & Caicos. In 2022, the high-level chain plans to also make its entrance into Albania and Honduras.
Overall, Marriott maintains an industry-leading portfolio of seven luxury brands spread across 69 countries and territories. Last year, the hotel chain grew its portfolio of luxury hotel rooms by a net volume of 4.8% and continues expanding its luxury footprint with nearly 50,000 rooms currently in the pipeline for this high-earning segment. The high-level chain anticipates the launch of more than 30 luxury hotels in 2022.