Marriott Shares 2022 Trends Shaping the Hospitality Industry’s Future

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Despite damages inflicted on the hospitality sector by the COVID-19 pandemic, Marriott International reported Thursday that 2021 proved to be a strong year for the company’s overall development in terms of rooms growth and signings. Along with an update on the health of its business, Marriott also offered insight into some key trends that appear poised to shape the industry in 2022.

“Marriott has the benefit of sitting at the intersection of information and insights from a global community of developers, properties, owners and franchisees, as well as the more than 160 million members of our Marriott Bonvoy travel program,” Stephanie Linnartz, President, Marriott International, said in a release.

She continued, “Our analysis of the prevalent trends in global development is particularly instructive as we continue to recover from this global pandemic. We have been focused on working closely with our valued community of owners and franchisees throughout these unprecedented times. We are pleased with our strong 2021 development results, and look forward to continuing to drive value for our owners and franchisees throughout the recovery and beyond with our quality brands, our comprehensive business support systems and industry-leading loyalty platform.”

Luxury Travel Maintains Momentum

Leisure travelers’ demand for luxury travel experiences in both well-known, iconic destinations and far-flung, less-explored locations remains high. Marriott maintains an industry-leading portfolio of seven luxury brands spread across 69 countries and territories. In 2021, the company grew its portfolio of luxury hotel rooms by a net volume of 4.8 percent and continues expanding its luxury footprint with nearly 50,000 rooms currently in the pipeline for this high-earning segment. Marriott anticipates the launch of more than 30 luxury hotels in 2022.

El Mangrove, Autograph Collection, Costa Rica. (Photo Courtesy of Marriott International)

Leisure Travel Maintains Its Lead

Leisure travelers are expected to carry on leading the industry’s post-pandemic (well, sort of) rebound throughout 2022. According to Marriott’s news release, “Leisure transient global room nights were the first to recover to 2019 pre-pandemic levels in the second quarter of 2021.” Even prior to the pandemic, the leisure travel market had been growing faster than business travel and, according to the World Travel & Tourism Council (WTTC), this segment is set to continue leading the way.

All-Inclusive Allure Keeps Growing

The all-inclusive resort segment continues to be very high-growth and gain further momentum in terms of consumer demand. For its part, Marriott intends to continue expanding its all-inclusive portfolio, which presently includes 28 properties across the Caribbean, Mexico and Central America. Last year, it signed 22 new all-inclusive resort agreements, marking a company record.

Extended Stay Gains Popularity

Extended stay options have become even more popular among leisure travelers, due to the ongoing remote-working trend, and easier integration of work time into leisure vacations. Extended stay products accounted for 37 percent of Marriott’s North American room signings in 2021. Its Element Hotels, Residence Inn by Marriott, and TownePlace Suites by Marriott extended-stay brands represent more than 1,400 of its hotel properties. This year, the company expects to announce such noteworthy openings as Element City Center Doha, Residence Inn by Marriott The Hague City Center and TownePlace Suites Cape Canaveral Cocoa Beach.

Exterior view of Moxy South Beach.
Exterior view of Moxy South Beach. (Photo courtesy of Marriott International)

Conversions Continue To Drive Growth

Hotel conversions have been an especially important driver of rooms growth amid the disruption of the pandemic. Marriott’s conversions accounted for 27 percent of its 2021 room signing, with more than 18,000 conversion rooms added last year. 2022’s anticipated conversion opening of particular note include the JW Marriott Hotel São Paulo in Brazil; The Brix, Autograph Collection in Trinidad and Tobago; The Serangoon House, Singapore; A Tribute Portfolio Hotel and a Delta Hotels by Marriott City Center Doha in Qatar.

International Growth Still Going Strong

Expansion Into More International Markets

Marriott continues its rapid expansion into new international markets, having signed 256 agreements representing close to 51,000 rooms in international locations outside the U.S. and Canada in 2021. Last year, the company’s global expansion brought its brands to Antigua and Barbuda, Belize, Bermuda, Grenada, St. Lucia, and Turks & Caicos; and it plans to also make its entrance into Albania and Honduras in 2022.

Select Service Gains Traction Globally

Further development of Marriott’s well-established select-service brands will also continue to act as another key growth driver, the company said, especially in international markets where its select brands are increasingly resonating with consumers. The company’s select-service brands include Courtyard by Marriott, Fairfield by Marriott, Four Points by Sheraton, Aloft Hotels and Moxy Hotels. It opened 107 select-service hotels in 2021, representing 19,000 rooms across 29 different countries.

Source: TravelPulse


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