Ultra-Luxury Hotels Bet on Measured Growth

The Marriott-controlled ultra-luxury superyacht brand The Ritz-Carlton Yacht Collection would like to raise as much as $400 million to add two superyachts to its current three, Bloomberg News reported on Wednesday.

Marriott International forecast that its fourth quarter would surpass 2019 in revenue per available room, a a closely watched number, underscoring the resilience of travel spending despite economic worries.

Hyatt just lapped the one-year anniversary of acquiring the all-inclusive resort company Apple Leisure Group in a $2.7 billion deal. The Chicago, Illinois-based hotel group is now looking to expand its hotel presence in European cities that could help feed its all-inclusives, according to comments executives made as they reported its earnings.

Marriott International is debuting an extended-stay brand offering serviced apartment stays in the U.S. and Canada. The Apartments by Marriott Bonvoy product will play in the premium and luxury segments, syncing with Marriott’s overall portfolio — which is in the upper half of lodging categories.

The formula for luxury hotels has typically had two key ingredients. First, choose locations in the districts where the elite live. Second, focus on high-touch services encouraging guests to linger, and spend, at the property.

Marriott International’s Edition brand, co-created with hotel impresario Ian Schrager, may finally be clicking with developers after a decade-long slow burn. The Tampa Edition that opened in September marked the 15th property in the series. Top executives expect to double that footprint within five years.

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Doing local in a more memorable way is becoming increasingly important for hotels. Marriott International VP of Design Aliya Khan and Curator Hotel & Resort Collection President Jennifer Barnwell discuss the rising demand for more lifestyle, capturing experiences through design and balancing renovations with changing consumer expectations.

Hotel companies have been launching new brands again. Hilton Worldwide said on Wednesday it had created its first hotel brand in the economy segment, Spark by Hilton. Accor, the owner of the world’s most hotel brands, said last week it had reorganized itself around its brands. Marriott International, Wyndham Worldwide, Hyatt, Kerzner, and Best Western have created or bought hotel brands in the past several months.

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Marriott International revealed on Monday its full-year totals for hotel development in 2022. The most notable figures highlighted a further push by the world’s largest hotelier into the luxury and extended-stay segments.

Marriott International ended 2022 with a robust performance thanks to the post-pandemic resurgence in travel, the company said on Tuesday. It enjoyed record fourth-quarter average room rates, profit at its managed hotels, hotel development plans, and sign-ups for its co-branded credit cards.