Marriott International expects its branded residential portfolio to grow by more than 70 per cent by 2022

Marriott International is the largest branded residential company in the lodging industry. Nearly 90 of its branded residential projects are already open across 18 countries and territories, and a pipeline of more than 60 signed and approved projects stretches from resort destinations to gateway cities. In 2017 alone, the company signed 13 branded residential projects, an annual record. Over the next four years, the portfolio is expected to grow by more than 70 per cent.

“As the number of residential condominium buyers grows globally, Marriott International’s well-known brands are ready to welcome them ‘home’ and deliver a distinct experience,” said Tony Capuano, Executive Vice President and Global Chief Development Officer, Marriott International. “We are excited to work with world-class developers to help them deliver highly desirable and successful branded residences to market.”

Demand rooted in how people wish to live

Behind the demand lies a confluence of trends: shifting demographics worldwide and a growing desire to live in walkable, mixed-use communities with a rich offer of amenities and services. For owners, a residence bearing one of Marriott International’s brands brings the assurance of hotel-grade service close at hand: concierge assistance, housekeeping, in-residence dining, spa and fitness facilities.

“Residential developers know that we are not just involved with creating a beautiful luxury residential project with a compelling list of amenities and services,” Capuano said. “We’re also laser focused on creating dynamic communities where people can enjoy a convenient lifestyle and personalize their experiences, just as they do in our hotels.”

Beyond the hotel next door

Branded residences have traditionally formed part of larger mixed-use developments anchored by a hotel of the same brand. Increasingly, however, Marriott International is signing residential-only projects with no adjoining hotel. In May 2018, construction began on the first residential-only St. Regis project in Rye, New York; in July, the company signed a second St. Regis residential-only tower in Boston.

Luxury leads, premium follows

The Ritz-Carlton remains the company’s most sought-after brand for residences, with 35 projects open and 15 in the pipeline, while St. Regis is gaining momentum with 12 open and 12 in the pipeline. By 2022, around 70 per cent of Marriott International’s branded residential properties are expected to carry one of its luxury brands.

The segment is no longer the preserve of luxury alone. Some 30 per cent of the pipeline features premium, non-luxury brands such as Marriott Hotels, Sheraton, Westin and Autograph Collection.

A footprint that spans the world

Most open projects are in the United States, with the remainder spread across 17 other countries and territories. By 2022, Marriott International expects to have branded residences open in nearly 40 countries and territories.

The company opened its first branded residences in 2000 under The Ritz-Carlton brand and has expanded steadily since, notably after acquiring Starwood Hotels & Resorts and, with it, the St. Regis and W brands. Since the Starwood transaction closed in 2016, it has signed nine branded residential projects under legacy Starwood brands, including St. Regis, W and Sheraton.

Source: Marriott International