Marriott International has announced plans to significantly grow its global portfolio of luxury and lifestyle brands, which includes The Ritz-Carlton, JW Marriott Hotels & Resorts, EDITION, Autograph Collection, AC Hotels by Marriott, Moxy Hotels, and Renaissance Hotels. Accounting for nearly 25 percent of the company’s system-wide pipeline, Marriott expects to add more than 200 luxury and lifestyle hotel projects over the next several years, reflecting over $15 billion of investment by the company’s owners and franchisees. “The luxury and lifestyle category is stronger than ever and we see demand continuing to rise worldwide,” said Arne Sorenson, president and CEO. “Next generation travelers are poised to comprise more than 60 percent of our business over the next four years, and already represent a broad spectrum of diverse cultures and lifestyles that view travel as an important way to enrich their lives. Our approach to the luxury and lifestyle segment embraces this trend and is shaping our development strategy.” The company’s current luxury and lifestyle portfolio totals 449 hotels across eight brands. Read the full release over at MarketWatch.
