Marriott International and Eastern Crown partner to launch "Fairfield(SM) by Marriott®" a new affordable mid-range hotel for travelers across China
Eastern Crown expects to open 100 "Fairfield(SM) by Marriott®" hotels by 2021 and more than double Marriott's presence in China
HONG KONG, Feb. 17, 2016 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) and Eastern Crown Hotels group, one of China's fastest growing lodging groups, today, signed an exclusive development agreement to bring the "FairfieldSM by Marriott®" brand to mainland China. The agreement targets having 140 hotels signed in five years, of which 100 are expected to be opened by 2021. The introduction of the Fairfield brand is a significant milestone in Marriott International's expansion into the midscale hotel segment in China, and is part of the company's strategic plan to expand rapidly across a broad spectrum of price tiers and locations across the country. Each Fairfield hotel will have between 100-150 rooms.
"China is the fastest growing market in Asia for us. The rising disposable incomes of the middle class and development of the consumption-led economy is driving an increased demand for higher quality mid-range accommodation," said Craig S. Smith, President & Managing Director of Marriott International Asia Pacific. "Fairfield will focus on young consumers and business travelers looking for a comfortable and productive stay at a great value."
Fairfield is a global leader in the mid-tier hotel segment, and is Marriott International's second largest distributed brand with more than 750 hotels worldwide. It will be the tenth brand in the portfolio to be introduced in mainland China joining six opened hotel brands, The Ritz-Carlton, JW Marriott, Marriott Hotels, Renaissance, Courtyard, Marriott Executive Apartments, and three signed new brands, Autograph Collection Hotels, Edition, and BVLGARI Hotels & Resorts. Marriott International currently has more than 80 hotels operating in China with a presence in 25 cities.
"Fairfield has quickly gained popularity in Asia since its introduction into the region two years ago. Guests enjoy the value of this contemporary brand, its intuitive design and great service culture that resonates so well in this part of the world. These key indicators are true differentiators that will meet and serve the needs of China's next generation travelers." said Shruti Buckley, Fairfield by Marriott Vice President and Global Brand Manager. "Due to the fast growing global demand for quality mid-tier hotels, Fairfield currently has the largest development pipeline within Marriott International, positioning the brand as the fastest growing in the portfolio. This partnership with Eastern Crown is proof of the brand's strong proposition and benefit to our owners."
The Fairfield brand was inspired by the "Fairfield Manor House" at the Marriott Family Ranch in Virginia which was purchased in 1950. The "Fairfield Manor House" was designed to be a comfortable and inviting place offering warm hospitality to guests, allowing them to rest, relax and enjoy home cooked meals from the farm. Its Chinese name 万枫 (wàn fēng) was inspired by the same spirit of practicality, warmth and beauty of the "Fairfield Manor House", living up to its heritage of providing a warm welcome, great service, and a hotel experience that's just right for each and every guest.
Eastern Crown Hotels Group is a privately held, Guangzhou-based hotel group that specializes in franchising and operating select-service hotels. It currently has a portfolio of over 700 hotels either open or under development in 200 cities in China and Malaysia. According to Hotels magazine's ranking, Eastern Crown is currently ranked No.38 among international hotel groups and No.7 among Chinese hotel groups.
Mr. Cheng Xinhua, Founder, President and Chief Executive Officer of Eastern Crown Hotels Group said at the signing ceremony, "Eastern Crown Hotels Group and Marriott share the same goal of creating high-quality, customer-centric products, and continuing to develop and improve the products to meet customer needs. We are delighted to work with Marriott in this segment, combining our knowledge of the Chinese consumer and Marriott's quality and expertise in China market expansion. We see this agreement as the beginning of a fruitful collaboration between the two organizations, all with the aim of building the best experiences for Chinese consumers in mind."
Craig S. Smith added, "By leveraging the market knowledge, skills and expertise of a well-established hotel group like Eastern Crown Hotels Group, Fairfield is poised to develop at an exceptional pace. By working together, we will bring new options for travelers at a great value within China and provide access to and familiarity with an affordable option when traveling outside China as well."
Guests of Fairfield hotels in China will have the same access to Marriott's award-winning loyalty program, Marriott Rewards (http://marriottrewardsapac.com/) as all other guests at Marriott International portfolio hotels. Eastern Crown Hotels Group has over eight million members in its own loyalty program, who will also be able to convert their points to stay at 4200+ Marriott properties around the world.
The interior aesthetic of Fairfield hotels in China will feature a warm, earthy tonality, with timeless natural materials and a contemporary western style. They will feature the brand's signature functions including smart and flexible public spaces, spacious guest rooms, comfortable workspaces, and introduce the culture of American heritage to new markets in China.
Fairfield is designed for today's traveler who is looking to be productive on the road, whether for business or leisure. With modern design and amenities, Fairfield is known for providing consistent and reliable service at an exceptional value. With more than 750 properties throughout the United States, Canada, Mexico, and India Fairfield participates in the award-winning Marriott Rewards® frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information, visit http://fairfield.marriott.com/ or become a fan at https://www.facebook.com/fairfieldinnandsuites
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,300 properties in 85 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and Moxy Hotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together comprise nearly 55 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
About Eastern Crown Hotels Group
Eastern Crown Hotels Group is one of the leading Chinese hotel groups with a portfolio of more than 700 hotels either open or under development in over 200 cities in China and Malaysia. Based in Guangzhou, China, the company focuses on select-service hotel development. It currently operates under four brands, namely City Comfort Inn, Jtour, ECharm and ECheng, and has 8 million loyalty members. For more information, visit http://www.dongchenghotels.com/.
Note on forward looking statements:
The anticipated numbers of FairfieldSM by Marriott® hotels to be opened in mainland China by 2021 and over five years are "forward-looking statements" within the meaning of United States federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent annual report on Form 10-K or quarterly report on Form 10-Q; any of which could cause the actual numbers or locations of new hotels to be different. These statements are made as of the date of this press release, and Marriott International undertakes no obligation to publicly update or revise them or any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Marriott International, Inc.