Friday October 5th, 2012 - 10:27AM
BETHESDA, MD—Marriott International, Inc.’s extended-stay portfolio now accounts for one-third of the company's North American development pipeline. The company made the announcement at the Worldwide ERC Global Workforce Symposium, here.
Residence Inn by Marriott and TownePlace Suites by Marriott lead the U.S. market in this segment and have a combined pipeline of more than 180 hotels under development, including 140 new unit openings planned by 2015. Internationally, extended-stay demand is rising with Marriott Executive Apartments, located wholly outside of the U.S., expecting nearly a 50% increase in hotel distribution by 2016.
"The worldwide workforce is increasingly mobile with rising demand for extended-stay lodging products," Thomas Kay, global account director, Marriott Global Sales, said in a statement.
The Marriott extended-stay portfolio consists of three brands that are geared toward the needs of long-term guests. With more than 850 locations across the globe, Residence Inn, TownePlace Suites and Marriott Executive Apartments are designed for travelers who spend much of their lives on the road.