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In Dubai during a whirlwind trip including high-level meetings, visits with company employees and a major speech, the head of Marriott
International also took the next steps to ultimately more than double the company’s hotels in the region as he signed the
first of four development transactions in three countries.
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.
J.W. “Bill” Marriott, Jr., chairman and chief executive officer of Marriott International
said, “The Middle East is not only a rapidly expanding center of commerce, but also a thriving tourist destination. The region is a lynchpin in our
company’s long-term vision to expand global distribution that supports our business strategy. With these latest agreements, we now have a
total of more than 134,000 rooms in our global development pipeline with more than a quarter located outside North America.”
In the Middle East, Marriott International is represented by six brands: The Ritz-Carlton, JW Marriott Hotels & Resorts, Marriott Hotels &
Resorts, Renaissance Hotels & Resorts, Courtyard by Marriott and Marriott Executive Apartments. The properties to be added to the
Marriott International system also include the first Marriott Vacation Club International resort, the company’s timeshare division, in the
Middle East.
Marriott’s new additions announced
on Monday:
Egypt:
Marriott International has reached an agreement with Concord for Touristic Development S.A.E. for a 250 room Marriott resort in
Marsa Alam expected to open in 2011.
Saudi Arabia:
Marriott International has reached agreement with Fawaz Abdul Aziz Alhokair & Associates Company, LLC for five properties.
These include 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. Each should open by 2011.
United Arab Emirates:
Marriott International has two new development deals in the United Arab Emirates. The first with Aldar Properties
PJSC for a 411 room Renaissance hotel and 195 room Courtyard hotel in Abu Dhabi with both slated to open in 2011. In a joint venture with
Al Futtaim Group, the company expects to open a 320 unit Marriott Vacation Club International resort targeted for 2011 in Dubai Festival
City.
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