2012 Spells success as Marriot International Resorts Positive annual results for Middle East and..

February 24, 2013

2012 SPELLS SUCCESS AS MARRIOTT INTERNATIONAL REPORTS POSITIVE ANNUAL RESULTS FOR MIDDLE EAST AND AFRICA

  • REVPAR UP 8.3PERCENT IN 2012
  • INCREASE DRIVEN BY 5.3 PERCENT GROWTH IN OCCUPANCY
  • FIVE NEW PROPERTIES SIGNED IN Q4
  • 48 HOTELS TO JOIN REGIONAL PORTFOLIO BY 2017

Dubai, United Arab Emirates – 24th February 2013 – In response to the Marriott International, Inc. (NYSE:MAR) global sales results, which reported a 22 percent year-on-year growth, the company has announced a 8.3 per cent increase in RevPAR figures across the Middle East and Africa for 2012 compared to the previous year.

Driven predominantly by a 5.3 percent growth in occupancy, the company’s year-end results clearly demonstrate global traveller’s desire to stay at Marriott International properties, comprising some of the world’s strongest and most respected brands. These positive results follow the company’s second place ranking by Great Places to Work Institute and Executive Magazine.

Marriott International’s performance was boosted by three openings in 2012: the Courtyard by Marriott Diplomatic Quarter, and Marriott Executive Apartments Riyadh Makarim, and the flagship JW Marriott Marquis Hotel Dubai. The Marquis endorsement is reserved for iconic properties in the Marriott International portfolio, defined by their scale, grandeur and location. The new JW Marriott Marquis in Dubai is only the second JW Marriott Marquis branded property in the world and has huge strategic importance for the world-class luxury JW Marriott brand’s global expansion.

Marriott International’s development pipeline in the Middle East and Africa continues to grow with the announcement of five new property signings, adding a further 1,027 rooms to its system; the 186-room Rabat Marriott Hotel will open in Morocco next year, while the 181-room Constantine Marriott Hotel in Algeria and 210-room Courtyard by Marriott Riyadh North in Saudi Arabia will open in 2015, and the 300-room JW Marriott Casablanca in Morocco and 150-room Lagos Marriott Hotel in Nigeria in 2016. The new hotels will bring the total number of announced properties joining Marriott International’s Middle East and Africa portfolio by 2017 to 48 and are indicative of the company’s aggressive growth plans, in particular for Africa.

Commenting on the company’s positive 2012 results, Alex Kyriakidis, President and Managing Director of Marriott International, Middle East and Africa, said: “These remarkable results clearly demonstrate the continued growth of the region’s hospitality industry, with Marriott International’s exceptional RevPAR and room occupancy rates making a significant mark in the sector. Our system continues to look better and better, and with these signings and more to come in 2013, Marriott International will be perfectly placed to accommodate the increasing number of visitors to the region. We also plan to hire over 21,000 associates over the next five years in order to meet the needs of our growing portfolio.”

Marriott International’s portfolio in the Middle East and Africa currently comprises 42 properties in 12 countries, offering 12,237 rooms across seven lodging brands. It is set to expand by 48 properties and 11,567 rooms by 2017.