How Marriott Plans to Supercharge Growth Starting With 1,700 New Hotels in 3 Years
Photo Credit: Marriott CEO Arne Sorenson and other Marriott executives presented the company's three-year growth plan in New York City on Monday. Marriott
Skift Take
Marriott says you really can have it all when it comes to a hotel company — both scale and quality. But can you really do that without sacrificing one for the other? Guess we'll find out over the next three years.
Marriott International is already considered, by and large, to be the world's largest hotel company, with more than 6,900 hotels worldwide spread out over 30 brands, but the 90-year old company isn't done growing.
At an investor day on Monday, the company highlighted its aspirations, which includes adding 1,700 more hotels over the next three years, and returning some $9.5 billion to $11.5 billion to shareholders.
Buying Starwood Hotels & Resorts in 2016 for $13.3 billion transformed Marriott into the world's largest hotel company, but now that the integration with Starwood is officially completed, how will the company continue to grow and, as Marriott CEO Arne Sorenson put it, "not stand still?"
The strategy, Sorenson more or less explained, is to continue following the strategy the company has held since 2015.
"We're about to test the theory we've pursued from the get-go," Sorenson said to an audience of more than a hundred investors gathered at the New York Marriott
