Marriott International's Extended-Stay Brands Lead Company's North American Growth
Expansion surge meets rising demand for lodging solutions for mobile workforce
BETHESDA, Md., Oct. 4, 2012 /PRNewswire/ -- At the Worldwide ERC® Global Workforce Symposium, Marriott International, Inc. (NYSE: MAR) announced that its extended-stay portfolio now accounts for one-third of the company's North American development pipeline. Residence Inn by Marriott and TownePlace Suites by Marriott lead the U.S. market in this segment and have a combined pipeline of more than 180 hotels under development, including 140 new unit openings planned by 2015. Internationally, extended-stay demand is rising with Marriott Executive Apartments, located wholly outside of the U.S., expecting nearly a 50 percent increase in hotel distribution by 2016.
"The worldwide workforce is increasingly mobile with rising demand for extended-stay lodging products," said Thomas Kay, global account director, Marriott Global Sales. "Marriott is a leader in the extended-stay space, demonstrating our understanding and commitment to serve this rapidly growing community of traveling professionals."
The Marriott extended-stay portfolio consists of three distinct brands that are geared toward the needs of long-term stay guests. With more than 850 locations across the globe, Residence Inn, TownePlace Suites and Marriott Executive Apartments are designed for travelers who spend much of their lives on the road.
Residence Inn's expansion signals widespread demand for the pioneer brand
A long-standing leader in the extended-stay segment, Residence Inn has the third-largest number of hotels in the Marriott International portfolio worldwide. With strong franchise demand in North America, Residence Inn has nearly 120 hotels under development, leading Marriott's other brands in the region.
Designed for a traveler who seeks balance on the road, along with large suites and upscale amenities, Residence Inn hotels are ideal for guests who need accommodations for long stays. Featuring studio, one-bedroom and two-bedroom suites, Residence Inn properties offer full kitchens and free grocery delivery for all guests. Key Residence Inn amenities include free Wi-Fi, complimentary hot breakfast and evening social hours, as well as lobby and outdoor spaces designed for gathering.
TownePlace Suites tops mid-price extended-stay brands in the industry
Recently named the #1 mid-price extended-stay brand by Business Travel News, TownePlace Suites scored highest in each of the individual categories of the publication's 2012 Hotel Chain Survey and was at the top of its tier for a second year in a row. Driven by strong franchise demand for the brand, TownePlace Suites expects to grow its number of hotels by more than 40 percent by 2015, focusing on urban locations and secondary markets in the U.S. and Canada.
TownePlace Suites is an all-suite, extended-stay hotel brand that is ideal for the independent traveler who appreciates value and needs accommodations for longer stays. Offering spacious studio, one-bedroom and two-bedroom suites with fully equipped kitchens, TownePlace Suites hotels provide a thoughtful design of separate spaces that allow guests to comfortably work at their Home OfficeTM Suite and also relax when they are away from home. Key TownePlace Suites amenities include free breakfast, complimentary Wi-Fi and a TowneMap® to help guests connect to the local neighborhood.
Marriott Executive Apartments expects more than 50 percent growth in four years
Marriott Executive Apartments expects to increase from 24 to nearly 40 properties by 2016. With major expansion planned in Asia, the Middle East and Africa, the Marriott Executive Apartments brand is growing rapidly in emerging markets around the world.
Designed for the international traveler and executive expat seeking luxurious apartment living with hotel services, Marriott Executive Apartments is ideal for guests who need accommodations for 30 nights or more. Offering serviced studio, one-bedroom, two-bedroom and three-bedroom apartments, Marriott Executive Apartments provides full kitchens, high-speed Internet, as well as health club and resident lounge access. Providing secure environments supported by 24-hour staff, the properties offer pre-arrival consultation and local area expertise for all guests.
About Residence Inn by Marriott
With more than 600 properties in the United States, Canada, Europe, the Middle East and Central America, Residence Inn by Marriott is a leader in the extended-stay lodging segment. Designed for long stays, the brand offers spacious suites with separate living and sleeping areas. Fully functional kitchens, grocery delivery, 24-hour markets and complimentary breakfast help guests maintain a healthy balance while on the road. Complimentary Wi-Fi allows guests to stay connected to the home and office, while health and fitness options and inviting lobby spaces provide comfortable places to work and relax. For more information or reservations, call the Residence Inn toll-free number at 800-331-3131 or visit www.residenceinn.com. For travel tips, the latest on the brand or to connect with other travelers, "like" Residence Inn on Facebook: www.facebook.com/residenceinn.
About TownePlace Suites by Marriott
TownePlace Suites by Marriott is an all-suite, extended-stay hotel brand in the moderate price range. Ranked #1 for mid-price extended stays by Business Travel News' Hotel Chain Survey in 2011 and 2012, TownePlace Suites is the only brand to rank at the top of its tier for two years in a row. Ideal for travelers who need accommodations for longer stays, TownePlace Suites offers studio, one-bedroom and two-bedroom suites with fully equipped kitchens and separate living/working and sleeping areas. Launched in 1997, the brand currently has more than 200 locations in the United States and Canada. For more information or reservations, call the TownePlace Suites toll-free number at 800-257-3000 or visit www.towneplacesuites.com.
About Marriott Executive Apartments
Located in more than 15 countries across Latin America, Europe, Asia, the Middle East and Africa, Marriott Executive Apartments provides upscale apartments for guests on extended stays of 30 days or longer outside of the United States. Offering more than 20 properties with accommodations from studios to three bedrooms, Marriott Executive Apartments combines the comfort of residential living with the services of a Marriott hotel. Each property is influenced by local design elements, and features state-of-the-art facilities and technology. For more information or reservations, visit www.marriottexecutiveapartments.com.
The Residence Inn, TownePlace Suites and Marriott Executive Apartments brands participate 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.
Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
NOTE: The statements about the number of hotels our brands expect to add in future years and their planned geographic distribution are "forward-looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth and refurbishment; and other risk factors identified in our most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Marriott International, Inc.
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