Marriott’s 2024 Year in Review: Record Development, Record Revenue

28.01.2025 - 21:27 / travelpulse.com / Isla Mujeres / Carlton Reserve / Anthony Capuano / Lacey Pfalz

Marriott International, Inc. celebrated a strong 2024, with a net rooms growth of 6.8 percent and totalled over 9,300 properties worldwide, with 577,000 more in the hotel giant’s development pipeline. 

The company signed the most deals with owners, franchisees and developers in a single year, at over 1,200. Thirty-four percent of rooms signings resulted from conversion properties, like its acquisition of Postcard Cabins and long-term licensing agreement with Sonder. 

Marriott also celebrated its 9,000th hotel opening in 2024 with the opening of the St. Regis Longboat Key in Florida. 

“2024 was a year of incredible growth for Marriott, as we celebrated regional milestones, segment entries, brand expansions, market debuts, and more,” said Anthony Capuano, President and CEO, Marriott International. “As we maintain our focus on the company’s purpose of connecting people through the power of travel, I couldn’t be more excited about the work our global teams are doing to drive growth and innovation, create best-in-class experiences for our guests, and deliver strong results for our owners and franchisees.”

Marriott has been investing in growing its seven luxury brands, which now feature 658 hotels across 74 countries and territories. At year-end, the corporation had 266 luxury hotels in its pipeline. Notable 2024 openings included the W Prague, Koenigshof, a Luxury Collection Hotel, Munich and The Jeddah EDITION.

Exterior rendering of The Lake Como EDITION. (Photo Credit: Marriott International)

The hotel giant looks forward to opening 30 new luxury hotels and resorts worldwide in 2025, including The Lake Como EDITION and Nekajui, a Ritz-Carlton Reserve. 

In the midscale segment, Marriott expanded its City Express by Marriott brand in the U.S. and Canada, and in 2025 expects to grow into Nicaragua, Bolivia, Argentina, Peru and Brazil. Fifty-three hotels are currently in development. StudioRes and Four Points Flex by Sheraton are also growing across the globe. 

Marriott is also growing its portfolio of branded residences: in 2024, it boasted 142 open residential locations and 138 in development. New residences in development include Almare, a Luxury Collection Residence in Isla Mujeres and The St. Regis Residences, Al Maryah Island, Abu Dhabi.

2024 was also the year that Marriott was required to pay a $52 million fine after the Federal Trade Commission (FTC) found the corporation guilty liable for security breaches impacting 344 million travelers. 

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