Company Plans to Welcome The Resort at Pelican
Hill (Newport Beach, CA), Turtle
Bay Resort (O'ahu, HI), and a Luxury Hotel in Midtown Manhattan
(New York City) to Its Luxury
Portfolio
BETHESDA, Md., June 3, 2024
/PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR)
announces plans to convert three iconic luxury properties in the
U.S. to brands within the Marriott Bonvoy portfolio. Located in
some of the most sought-after destinations in the country, The
Resort at Pelican Hill, Turtle Bay Resort, and a luxury Midtown
hotel in New York City are all
expected to join Marriott Bonvoy's luxury brands this
summer.
"In the last few weeks, we finalized deals for conversions of
three incredible properties, adding over 1,000 rooms to our system
and continuing to underscore our commitment to luxury," said
Leeny Oberg, Chief Financial Officer
and Executive Vice President, Development, Marriott International.
"We are sought out by owners because of the depth and breadth of
our brand portfolio and the power of our platform to drive results.
Today, the company has an industry-leading global luxury
distribution of over 510 open hotels with another 234 luxury hotels
in the signed pipeline. We look forward to strengthening our
leadership in this important customer segment as we continue to
work with owners to maximize the potential of their
projects."
Stretching from Manhattan to
Hawai'i, the company's three planned luxury conversions
include:
A luxury hotel in New York, New
York, is expected to join the Marriott Bonvoy portfolio
on June 5. This property is located
in the heart of Midtown Manhattan close to top attractions
including Central Park, Times Square, The Museum of Modern Art,
Rockefeller Center, the shops on Fifth Avenue, and Radio City Music
Hall. This exciting addition will mark The Luxury Collection's
return to New York City.
The Resort at Pelican Hill is a five-star luxury property
located in Newport Beach,
California, and is expected to join Marriott's luxury
portfolio on July 1. The 504-acre
resort sits on the coast of Newport
Beach and includes the Pelican Hill Golf Club, featuring two
18-hole golf courses with 270-degree ocean views. The Irvine
Company will continue to own the property, with Marriott managing,
and it is expected to be converted to a St. Regis at a later
date.
Turtle Bay Resort, located on the North Shore of O'ahu,
Hawai'i, is anticipated to join The Ritz-Carlton brand portfolio
later this summer. A sought-after hideaway, this resort embodies
the natural beauty of the island and is complete with oceanfront
bungalows, lavish suites, and ocean view rooms. With seven secluded
beaches within walking distance, 12 miles of hiking and biking
trails, and incredible onsite amenities, the property provides
guests with unforgettable experiences. Host Hotels & Resorts'
purchase of the property, as well as Marriott's assumption of
management of the resort, is expected to occur later this
summer.
"Strengthening and growing our luxury pipeline is a top priority
for the company, and I'm proud that Marriott remains the clear
industry leader in the segment," said Dana
Jacobsohn, Chief Development Officer, U.S. Luxury Brands
& Global Mixed-Use. "We look forward to working closely with
our owners and franchisees to provide best-in-class service and
experiences to guests from around the world seeking out these
incredible destinations."
With an unrivaled portfolio of seven dynamic luxury brands — The
Ritz-Carlton, including Ritz-Carlton Reserve and The Ritz-Carlton
Yacht Collection, Bvlgari Hotels & Resorts, St. Regis Hotels
& Resorts, EDITION, The Luxury Collection, JW Marriott, and W
Hotels, Marriott currently has over 510 open luxury hotels and
resorts in 70 countries and territories. Luxury properties
currently account for around 10 percent of both Marriott's open
rooms and pipeline rooms.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of United States
federal securities laws, including statements related to expected
hotel additions and portfolio growth; our development pipeline;
future growth opportunities; owner interest in our brands and
platform; the power of our platform to drive results; and similar
statements concerning anticipated future events and expectations
that are not historical facts. We caution you that these statements
are not guarantees of future performance and are subject to
numerous evolving risks and uncertainties that we may not be able
to accurately predict or assess, including the risk factors that we
identify in our U.S. Securities and
Exchange Commission filings, including our most recent Annual
Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these
factors could cause actual results to differ materially from the
expectations we express or imply in this press release. We make
these forward-looking statements as of the date of this press
release and undertake no obligation to publicly update or revise
any forwardlooking statement, whether as a result of new
information, future events or otherwise.
Marriott International, Inc. (Nasdaq: MAR) is based in
Bethesda, Maryland, USA, and
encompasses a portfolio of nearly 8,900 properties across more than
30 leading brands in 141 countries and territories. Marriott
operates and franchises hotels and licenses vacation ownership
resorts all around the world. The company offers Marriott Bonvoy®,
its highly awarded travel program. For more information, please
visit our website at www.marriott.com, and for the latest
company news, visit www.marriottnewscenter.com. In addition,
connect with us on Facebook and @MarriottIntl on X
and Instagram.
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SOURCE Marriott International, Inc.