Marriott International Strengthens Leadership Position in Branded Residences, Announces Owner Recognition Platform

PRNewswire 22-Jul-2024 9:00 AM

Strong Developer Value and Elevated Owner Experiences Continue to Fuel Growth for Marriott Branded Residences Portfolio 

BETHESDA, Md., July 22, 2024 /PRNewswire/ -- Today, Marriott International, Inc. (NASDAQ:MAR) announces the continued growth and global leadership of Marriott Branded Residences, along with enhanced Residence Owners benefits through ONVIA, the company's newly integrated Owner recognition platform.

For nearly 25 years, Marriott International has offered whole-ownership, private branded residences that are consistent with the level of design and service experienced at its renowned hospitality offerings. Leading the branded residential segment, Marriott has grown its open portfolio by nearly 50 percent since year-end 2019, with 138 open residential locations today, and a strong pipeline of 123 projects, representing around 90 percent growth on its existing footprint.

With 16 distinct residential brand offerings, Marriott's portfolio of branded residences provides an expansive array of lifestyle and location choices across both luxury and premium brands, such as The Ritz-Carlton, St. Regis, JW Marriott, Autograph Collection, EDITION, and W Hotels. The company's branded residence portfolio includes both co-located projects with a hotel of the same brand, and standalone properties, which comprise nearly 25 percent of open and pipeline projects.

"Since Marriott opened its first branded residence property in 2000, we have seen the space continuously grow and evolve in exciting ways, expanding opportunities for developers, brands and residents," said Dana Jacobsohn, Marriott International Chief Development Officer, U.S. Luxury Brands & Global Mixed-Use. "With our wide-reaching brand portfolio, loyal customer base, and global recognition platform, we have not only created an exceptional product offering for prospective developers, but we are well-positioned for continued leadership in the segment."

Strong Value Proposition for Developers

Marriott Branded Residences offer development licensees a unique opportunity to generate added value with the world's largest hospitality and branded residences company. Developers benefit from buyer confidence driven by Marriott's renowned hospitality expertise, powerful brands, and long-term agreements. The Marriott Branded Residences portfolio is forecasted to generate $1.7B in residential sales revenue for third-party developers in 2024 with the company's global pipeline continuing to grow. With Marriott, developers can also expect to benefit from:

• Strong brand affinity and buyer confidence from potential Residence Owners across Marriott Bonvoy® portfolio
• Dedicated team of residential experts providing support across development, operations, sales and marketing
• Expert technical services and pre-opening guidance
• Support from best-in-class global design team and established partnerships with some of the world's most preeminent design firms
• Seamless integration with hotel systems and programs with co-located projects

Elevated Experiences and Extraordinary Owner Benefits

Earlier this month, Marriott announced the launch of ONVIA, the company's fully integrated and comprehensive Residence Owner recognition platform. The platform is designed to elevate experiences for Residence Owners, whether they are staying at a Marriott Bonvoy hotel, taking in the views aboard The Ritz-Carlton Yacht Collection, or enjoying their day-to-day life while in Residence.

"We understand that Marriott Branded Residences Owners are not only purchasing a unique and beautiful home, but they're also buying into a lifestyle and brand promise. To enhance our Owner experience, we recently launched ONVIA, Marriott's integrated and comprehensive Owner recognition platform," said John Hearns, Marriott International Senior Vice President, Global Residential Operations. "ONVIA is designed to not only build on the current Residence Owner benefits, but also introduce a host of additional offerings that have been specifically tailored for Residence Owners."

Following years of extensive research and listening to Residence Owners and developers, Marriott is confident the fully integrated program provides world-class, exclusive offerings, including, but not limited to:

• Elevated Marriott Bonvoy status for Residence Owners
• Preferred Residence Owner rates for select hotels within the global Marriott Bonvoy portfolio
• Special offerings and preferred access on voyages with The Ritz-Carlton Yacht Collection
• Exclusive offers on culinary experiences when at home and within the local community
• A focus on wellness, including spa and treatment offerings
• Access to a world-class accredited concierge service

Marriott Branded Residences Portfolio Grows Globally

Consumer demand has fueled Marriott's expansion of its branded residences portfolio to exciting and growing markets around the world. The company recently announced new open and pipeline projects in: 

Europe, Middle East and Africa (27 open, 41 in pipeline), including: 

• The St. Regis Residences, Cairo, Egypt
• The Residences at The St. Regis Al Mouj Muscat Resort
• The Ritz-Carlton Residences, Limassol, Cyprus
• The Ritz-Carlton Residences Dubai, Creekside
• The Residences at The St. Regis Belgrade
• Nujuma, a Ritz-Carlton Reserve Residence
• The Ritz-Carlton Residences, Diriyah, Riyadh
• The Lucan, an Autograph Collection Residence, London
• The Ritz-Carlton Residences, Baku
• Marriott Residences Al Barsha South, Dubai
• W Residences Manchester

Asia Pacific excluding China (17 open, 11 in pipeline), including:

• The Ritz-Carlton Residences, Hanoi
• JW Marriott Residences Jeju
• Marriott Residences Grand Marina, Saigon
• JW Marriott Residences Grand Marina Saigon
• The Residences at The St. Regis Jakarta
• JW Marriott Residences Panglao Island
• The Residences at The Tokyo EDITION, Toranomon
• Marriott Residences Penang
• W Residences Singapore – Marina View
• The Residences at Arbora, a Luxury Collection Resort & Spa, Quangnam, Da Nang

United States and Canada (76 open, 35 in pipeline), including:

• The Ritz-Carlton Residences, The Woodlands
• The Ritz-Carlton Residences, Portland
• The Ritz-Carlton Residences, Boston South Station Tower
• The Ritz-Carlton Residences, Newport Beach
• The St. Regis Residences, Houston
• The St. Regis Residences, Boston
• EDITION Residences, Miami Edgewater
• The Residences at The EDITION Nashville
• The St. Regis Residences, Sunny Isles Beach
• The St. Regis Residences, Miami
• Hotel Bozeman, Autograph Collection Residences
• Renaissance Residences Honolulu
• The Ritz-Carlton Residences, Predator Ridge

Caribbean and Latin America (16 open, 35 in pipeline), including:

• The Ritz-Carlton Residences, Riviera Maya
• The Residences at The St. Regis Costa Mujeres Resort
• The Residences at The St. Regis Kanai Resort
• Nekajui, a Ritz-Carlton Reserve Residence
• Siari, a Ritz-Carlton Reserve Residence
• The Residences at The St. Regis Cap Cana Resort
• The Residences at The St. Regis Los Cabos Resort
• W Residences Sao Paulo
• El Mangroove Autograph Collection Residences

Note on Forward-Looking Statements 
This press release contains "forward-looking statements" within the meaning of United States federal securities laws, including statements related to expected future project openings and portfolio growth; our development pipeline; future growth opportunities; demand trends and expectations; 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 evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. 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 Marriott International
Marriott International, Inc. (NASDAQ:MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,900 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

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SOURCE Marriott International, Inc.