Marriott's MGM deal adds 37,000 rooms

BTN News
Monday, 06 May 2024

US-based Marriott International says it expects year-over-year world-wide revenue per available room (RevPAR) growth of 4-5 per cent in the second quarter and 3-5 per cent for full year 2024.


In the first quarter, RevPAR grew 1.5 per cent in the United States and Canada and 11.1 per cent in international markets, the hotelier said.

In international markets, growth in the Asia-Pacific region excluding China was especially strong, with a RevPAR gain of nearly 17 per cent.

The company said Asia-Pacific gains came from sustained growth in both leisure and business travel and increasing cross-border travel, especially from mainland China after that country’s travel restrictions were relaxed.

Also, during the quarter, Marriott signed a deal with MGM Resorts International to launch MGM Collection with Marriott Bonvoy and add nearly 37,000 rooms to its system.

The agreement with MGM contributed to Marriott’s total addition of 46,000 net rooms during the first quarter, bringing its global system total to more than 1.6 million rooms in nearly 8,900 properties.

Marriott's MGM deal adds 37,000 rooms

BTN News
Monday, 06 May 2024

US-based Marriott International says it expects year-over-year world-wide revenue per available room (RevPAR) growth of 4-5 per cent in the second quarter and 3-5 per cent for full year 2024.


In the first quarter, RevPAR grew 1.5 per cent in the United States and Canada and 11.1 per cent in international markets, the hotelier said.

In international markets, growth in the Asia-Pacific region excluding China was especially strong, with a RevPAR gain of nearly 17 per cent.

The company said Asia-Pacific gains came from sustained growth in both leisure and business travel and increasing cross-border travel, especially from mainland China after that country’s travel restrictions were relaxed.

Also, during the quarter, Marriott signed a deal with MGM Resorts International to launch MGM Collection with Marriott Bonvoy and add nearly 37,000 rooms to its system.

The agreement with MGM contributed to Marriott’s total addition of 46,000 net rooms during the first quarter, bringing its global system total to more than 1.6 million rooms in nearly 8,900 properties.