Marriott’s Middle East expansion
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Marriott International signed the first of four development transactions in three countries in the Middle East that would ultimately more than double the company’s hotels in the region.
In the Middle East alone, the company expects to expand its current portfolio of properties from 26 to 65 through 2011. With the signings involving nine properties and 2,000 rooms, Marriott’s Middle East hotel pipeline now stands at 39.
“The region is a lynchpin in our company’s long-term vision to expand global distribution that supports our business strategy,” said J.W. Marriott, Jr., Chairman and CEO of Marriott International.
He said with the latest agreements, the chain would have over 134,000 rooms in its development pipeline with more than a quarter located outside North America.
The recent additions will see a 250-room Marriott resort in Marsa Alam, Egypt, expected to open in 2011. In Saudi Arabia, the new signings are a 250-room Marriott hotel and 50 unit Marriott Executive Apartments in Damman; a 250-room Ritz-Carlton hotel with 100 Ritz-Carlton Residences in Riyadh and a 220-room Courtyard hotel in Jubail. They are expected to open by 2011. In United Arab Emirates, there will be a 411 room Renaissance hotel and 195 room-Courtyard hotel in Abu Dhabi with both slated to open in 2011. A 320-unit Marriott Vacation Club International resort is also targeted for 2011 in Dubai Festival City.
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