Marriott International saw signings increase 21% last year to set it up … – Seeking Alpha

Marriott hotel in downtown of Ottawa, Canada

Iryna Tolmachova

Iryna Tolmachova
Marriott International (NASDAQ:MAR) announced on Monday that the company’s deal signings accelerated again in 2022.
The company said it signed an average of two deals a day for a total of 726 management and franchise agreements. That marked a
Marriott (MAR) noted that half of the 2022 rooms signed were in international markets, including key growth markets such as India, Saudi Arabia, Mexico, and the Caribbean. The hotel chain’s global development pipeline totaled over 3K properties representing more than 496K hotel rooms at the end of the year, excluding the City Express rooms.
During the year, MAR added 394 properties, representing more than 65K rooms on a gross basis, growing the system 4.4%. Net rooms were up 3.1% after factoring in depletions.
At the end of 2022, Marriott’s worldwide system consisted of nearly 8.3K properties and roughly 1.5M rooms in 138 countries and territories.
Looking ahead, Marriott (MAR) said it is poised to extend its lead in luxury with a record 42 luxury hotel agreements signed last year, representing nearly 8K rooms.

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