The Ritz-Carlton Hotel Company, L.L.C. Charts Global Expansion Plan; Adding 20 Hotel Projects Through 2016
CHEVY CHASE, Md., Sept. 12, 2013 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. has announced a major expansion and development initiative that will bring the total number of properties in its portfolio to 100 hotels and resorts around the world by 2016. Ranging from Morocco to Japan and Israel to India, this plan will expand the brand to urban capitals and emerging tourist destinations, some of which are a first for the JD Powers luxury hospitality leader.
"The robust pipeline of hotel projects indicates a continued strong demand for Ritz-Carlton products and services. We are delighted at the company's continued positive growth," said Herve Humler, president and chief operations officer. "Across the globe, and especially in Asia and the Middle East, we will be the undisputed top-tier luxury hospitality brand by 2016," Humler predicted.
In the last 12 months, The Ritz-Carlton has opened three iconic properties, including Dorado Beach, a Ritz-Carlton Reserve in Puerto Rico, The Ritz-Carlton, Abu Dhabi a beach-front resort in the capital city of The United Arab Emirates, and the brand's first hotel in the stunning European city of Vienna in Austria.
No less than six new Ritz-Carlton hotels are scheduled to open in the last quarter of this year, including two properties in China; The Ritz-Carlton, Chengdu and The Ritz-Carlton, Tianjin; The Ritz-Carlton, Aruba will add to the stunning Caribbean portfolio; and the luxury brand is slated to open in three new countries with The Ritz-Carlton, Herzliya, Israel; The Ritz-Carlton, Almaty in Kazakhstan and The Ritz-Carlton, Bangalore in India.
The 2014 schedule follows with a record number of new openings including Kyoto, Japan; Nanjing, China; Rabat, Morocco; Cairo, Egypt; Manesar, India and Bali, Indonesia. By 2015, The Ritz-Carlton anticipates that it will open world-class luxury hotels and resorts in Cabo San Lucas; Oman, Muscat; Bali, Indonesia; Ho Chi Minh, Vietnam; Tunis, Tunisia and Haikou, China.
Residences are also slated to open in Montreal, Canada; Herzliya, Israel and Almaty, Kazakhstan. "The growth of Residences by The Ritz-Carlton has been impressive. Affluent customers are choosing these lifestyle options because of they know that their condominiums and estate homes will be managed in the same exceptional way as our hotels," said Humler. "Whether as a second or third home, or a primary residence, it is a great testimony to the affinity our customers have for The Ritz-Carlton."
Note on forward-looking statements: This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements concerning the number of lodging properties we expect to add in the future, the locations of those properties, the year in which particular properties will open, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in Marriott International, Inc.'s most recent quarterly report on Form 10-Q. These risks include changes in market conditions; 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; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About The Ritz-Carlton Hotel Company, L.L.C.
The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 80 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. The Ritz-Carlton is the only service company to have twice earned the prestigious Malcolm Baldrige National Quality Award, an award that originated in 1987. Its purpose is to promote the awareness of quality excellence, recognize quality achievements of companies and publicize successful quality strategies. The Ritz-Carlton Hotel Company won the award in 1992 and 1999. For more information, or reservations, call toll free in the U.S. 1-800-241-3333, or visit the company web site at www.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NYSE: MAR).
SOURCE The Ritz-Carlton Hotel Company, L.L.C.