Marriott set to add up to 112,000 hotel rooms

01 November 2010 by
Marriott set to add up to 112,000 hotel rooms

Marriott International could add up to 112,00 hotel rooms to its portfolio over the next three years.

The company says that it plans to grow current brands such as Courtyard and Fairfield, as well as expand its new brands outside of the USA, including the Autograph Collection and Edition, which has just opened its first hotel on Waikiki Beach in Hawaii.

It expects to invest £1.43b to £1.7b, and could return between £2.1b and £3.3b to shareholders from 2011 to 2013. Since the end of 2008, Marriott has reduced its net debt by almost £900,000.

JW Marriott Jr, chairman and chief executive of the company, said that Marriott was on the threshold of extraordinary growth.

"As we look ahead over three years, Marriott is poised to deliver substantial gains in bottom-line results, as well as meaningful returns to hotel owners and shareholders, as our industry-leading portfolio of brands both recovers from the recent recession and grows worldwide.

Marriott International currently has more than 3,500, hotels, timeshare resorts and serviced apartments in 70 countries worldwide.

Marriott International to double portfolio in Europe >>

Marriott lost £22m in 2009 >>

Marriott plans independent collection of hotels under Autograph >>

By Janet Harmer

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