Marriott International, Inc. (Nasdaq: MAR, “Marriott”) today announced the signing of two agreements to open Sheraton Seoul and Courtyard by Marriott Gwangju in South Korea, totaling 100 signed agreements in APEC so far this year, a record-breaking number for the company in the region.
The 99th signing in APEC, Sheraton Seoul, marks the brand’s reentry into the city and is expected to open in the capital’s Yongsun business district in 2029, in collaboration with SYS Holdings. Marriott’s 100th signed agreement in APEC this year, the Courtyard by Marriott Gwangju, a 300-room hotel in collaboration with JS Global, is anticipated to open in 2030. With 38 properties currently in operation across 10 cities in South Korea and 12 more anticipated openings in the pipeline, these signings solidify Marriott’s growing presence in the country and focus on expanding beyond gateway cities in the region.
“Being in more places is fundamental in positioning Marriott International for sustained growth in Asia Pacific excluding China, and South Korea is no exception. We are proud to celebrate the record-breaking signing of 100 properties in Asia Pacific excluding China, amidst the region’s competitive hospitality landscape, as it is testament to owners’ conviction of the value we bring,” says Marriott International APEC President Rajeev Menon.
APEC’s 100th milestone signing and entry into midscale segment 2024
So far, 2024 has been yet another record-breaking year for Marriott in APEC, with 100 deals signed to date in 11 countries. The company saw the most growth in India and Japan, which accounted for over 50 percent of deals signed so far this year in the region.
Marriott unlocked another achievement in APEC in 2024 as it entered the midscale segment in Japan with the debut of Four Points Flex by Sheraton, with the opening of Four Points Flex by Sheraton Osaka Umeda marking the company’s 100th property opening in Japan. In collaboration with global investment firm KKR, the midscale brand is slated to see 14 properties open their doors by year-end 2024 across prominent destinations in Japan, including Hakodate, Utsunomiya, Yokohama, Nagoya, Osaka, Kyoto, Kobe, and Hakata, with more openings in the pipeline planned for 2025.
“2024 has been a milestone year. What’s extremely encouraging is that the 100 signings in APEC so far this year came from across the region with both existing and new owners and franchisees who see value in Marriott International’s expansive distribution systems and the backing of our powerful award-winning Marriott Bonvoy travel program. The agreements also give us an opportunity to expand our brand portfolio in APEC across the luxury, premium, select, and now, the midscale segments, which we expect to be a key growth driver for us,” says Marriott International APEC Chief Development Officer, Shawn Hill.
Discover more from Great Travel Philippines
Subscribe to get the latest posts sent to your email.
Marriott International, Inc. (Nasdaq: MAR, “Marriott”) today announced the signing of two agreements to open Sheraton Seoul and Courtyard by Marriott Gwangju in South Korea, totaling 100 signed agreements in APEC so far this year, a record-breaking number for the company in the region.
The 99th signing in APEC, Sheraton Seoul, marks the brand’s reentry into the city and is expected to open in the capital’s Yongsun business district in 2029, in collaboration with SYS Holdings. Marriott’s 100th signed agreement in APEC this year, the Courtyard by Marriott Gwangju, a 300-room hotel in collaboration with JS Global, is anticipated to open in 2030. With 38 properties currently in operation across 10 cities in South Korea and 12 more anticipated openings in the pipeline, these signings solidify Marriott’s growing presence in the country and focus on expanding beyond gateway cities in the region.
“Being in more places is fundamental in positioning Marriott International for sustained growth in Asia Pacific excluding China, and South Korea is no exception. We are proud to celebrate the record-breaking signing of 100 properties in Asia Pacific excluding China, amidst the region’s competitive hospitality landscape, as it is testament to owners’ conviction of the value we bring,” says Marriott International APEC President Rajeev Menon.
APEC’s 100th milestone signing and entry into midscale segment 2024
So far, 2024 has been yet another record-breaking year for Marriott in APEC, with 100 deals signed to date in 11 countries. The company saw the most growth in India and Japan, which accounted for over 50 percent of deals signed so far this year in the region.
Marriott unlocked another achievement in APEC in 2024 as it entered the midscale segment in Japan with the debut of Four Points Flex by Sheraton, with the opening of Four Points Flex by Sheraton Osaka Umeda marking the company’s 100th property opening in Japan. In collaboration with global investment firm KKR, the midscale brand is slated to see 14 properties open their doors by year-end 2024 across prominent destinations in Japan, including Hakodate, Utsunomiya, Yokohama, Nagoya, Osaka, Kyoto, Kobe, and Hakata, with more openings in the pipeline planned for 2025.
“2024 has been a milestone year. What’s extremely encouraging is that the 100 signings in APEC so far this year came from across the region with both existing and new owners and franchisees who see value in Marriott International’s expansive distribution systems and the backing of our powerful award-winning Marriott Bonvoy travel program. The agreements also give us an opportunity to expand our brand portfolio in APEC across the luxury, premium, select, and now, the midscale segments, which we expect to be a key growth driver for us,” says Marriott International APEC Chief Development Officer, Shawn Hill.
Share this:
Discover more from Great Travel Philippines
Subscribe to get the latest posts sent to your email.