Underscoring the company's global leadership
in branded residences and luxury development, Marriott
International announces a strong residential pipeline in
the EMEA region.
ATHENS,
Greece, Nov. 19, 2024 /PRNewswire/ -- Today at the
Resort and Residential Forum, Marriott International (NASDAQ: MAR,
"Marriott") announces its accelerated growth in its branded
residential portfolio in the Europe, Middle
East & Africa ("EMEA")
region, with 70 projects in the portfolio, including 43 projects in
its signed pipeline and 27 open properties.
In the past two years, the global hospitality leader has signed
26 agreements to bring branded residences to iconic destinations in
the region, more than double the amount from the preceding two
years. With locations ranging from luxurious resort addresses, such
as The St. Regis Residences, Casares – Costa del Sol,
a highly anticipated project announced last month, to premier urban
destinations like the W Residences at Dubai Harbour, there is something
for every type of home buyer in the company's pipeline.
"As Marriott continues to meet the increasing global demand for
branded residences and world-class luxury experiences, the EMEA
region, home to some of the world's most coveted and iconic
destinations, has been a key driver of our accelerated growth,"
said Dana Jacobsohn, Chief
Development Officer, Global Mixed-Use Development. "Through
providing extraordinary benefits for both developers and Residence
Owners, we continue to strengthen our industry-leading position in
the segment, and I couldn't be prouder of the work the company is
doing to bring such extraordinary residential projects to
life."
With 16 luxury and premium brand offerings, 13 of which have an
open or signed residential property in the EMEA region, Marriott
Branded Residences offer development licensees the opportunity to
leverage strong brand recognition and lead generation platforms,
which have the potential to result in higher sales velocity and
increased sales value for developers. Along with the world-renowned
service that guests expect from Marriott brands, Residence Owners
also have the opportunity to receive enhanced benefits from the
recently announced owner recognition platform, ONVIA, which
provides exclusive offerings within the Marriott Bonvoy®
portfolio.
"Marriott is proud to work with some of the industry's top
developers across EMEA, who are an essential part of our company's
continued success," said Jaidev
Menezes, Regional Vice President, Mixed-Use Development,
EMEA. "Through the combination of best-in-class developers,
renowned design experts, iconic destinations, and people-first
service, Marriott's industry-leading value proposition is
well-positioned to continue bringing premier and luxury lifestyle
offerings to Residence Owners."
From breathtaking Mediterranean Sea views to luxury urban
residences, recent projects for which the company has signed
agreements and/or launched include:
- Announced this fall, The St. Regis Residences, Casares,
Costa del Sol, is a standalone residential property poised to
redefine luxury living in Spain as
Marriott's first branded residence in the country.
- The Ritz-Carlton Residences, Dubai, Creekside, which just began
construction, will offer 200 residences across 7 seven buildings
and 12 mansions, each featuring exclusive yacht berthing for
residents.
- Highgate, in collaboration with Marriott, announced plans to
rebrand several of its properties in the Algarve, Portugal to co-located hotel and residences
expected to open in mid-2025: The Residences at The Westin
Salgados Beach Resort, Algarve and Marriott Residences
Salgados Resort, Algarve.
- The Ritz-Carlton Residences, Diriyah, which
recently launched sales, feature designs inspired by the rich Najdi
heritage, with exquisitely designed villas, apartments and duplexes
that capture the essence of elegance and tradition. This launch
follows the successful sell-out of the initial standalone 106
villas also located at The Ritz-Carlton Residences, Diriyah in the
North District of the Kingdom, which sold out within a year of
launch.
- The St. Regis Residences, Financial Center Road,
Dubai, which sold
70% of its units in the first hour of sales launch, and the W
Residences Manchester, whose developer recently announced that
it sold 98% of units in under six months, both of which demonstrate
the potential sales velocity that developers may experience when
working with Marriott brands.
By the end of 2024, Marriott expects to celebrate the opening
of highly anticipated projects across the region, including:
- Nujuma, a Ritz-Carlton Reserve Residence, which marks
the first Ritz-Carlton Reserve in the EMEA region, will offer
Residence Owners a rare and immersive escape to discover Saudi
Arabian culture and the untapped wonders of the Red Sea.
- Located in the heart of Al Mouj, one of Oman's most exclusive neighborhoods, The
Residences at the St. Regis Al Mouj Muscat Resort offer an
exquisite gateway to the captivating cultural wonders of
Oman.
- As the first St. Regis Residences in Southeast Europe, The Residences at the St.
Regis Belgrade will offer a bespoke residential experience with
incredible views of the Belgrade
skyline.
- The Ritz-Carlton Residences, Baku, with a design drawing inspiration
from the diverse influences of the city's history, culture,
language, and religion, will offer residents distinct service and
luxury living in a vibrant district in Baku, Azerbaijan.
For more information on Marriott Branded Residences, visit
https://marriottresidences.com/.
Note of 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; expected benefits for developers and Residence Owners;
potential sales velocity and sales value for developers; 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.
Marriott International, Inc.
Marriott International, Inc. (Nasdaq: MAR) is based in
Bethesda, Maryland, USA, and
encompasses a portfolio of nearly 9,100 properties across more than
30 leading brands in 142 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, and for the latest
company news, visit www.marriottnewscenter.com. In addition,
connect with us on Facebook and @MarriottIntl on X and
Instagram.
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SOURCE Marriott International, Inc.