Marriott International Reveals Worldwide Expansion of Apartments by Marriott Bonvoy Collection

Only a year following its declaration to broaden its footprint in premium and luxury apartment-style accommodations, Marriott has inaugurated its inaugural property in Puerto Rico and secured agreements for new locations in the United States, Italy, and Saudi Arabia.

Today, Marriott International, Inc. (Nasdaq: MAR) unveiled its strategy to expand the Apartments by Marriott Bonvoy brand, with development agreements signed in the United States, Italy, and the Kingdom of Saudi Arabia. This announcement follows the recent launch of the brand's first property, Casa Costera, Isla Verde Beach, in San Juan, Puerto Rico.

Marriott International's Chief Financial Officer and EVP of Development, Leeny Oberg, expressed excitement about introducing Apartments by Marriott Bonvoy globally. She highlighted the brand's appeal for both residential and hotel developers, offering a valuable opportunity for new constructions and conversions. The brand meets the growing demand for longer-stay accommodations that blend work, personal, and family travel with unique, locally inspired designs.

Apartments by Marriott Bonvoy promises guests an independent stay experience, featuring spacious living areas, private bedrooms, full kitchens, and in-unit washers and dryers, all designed with a sophisticated local touch. Located in prime areas, these properties cater to both short and extended stays.

For developers, Apartments by Marriott Bonvoy presents a distinctive opportunity to convert existing buildings, embark on new constructions, or incorporate them into multi-use properties. This includes amenities like a dedicated welcome lounge and outdoor spaces. Marriott’s existing owners and franchisees, as well as multi-family residential developers, benefit from Marriott's reputable brand and the Marriott Bonvoy® loyalty program.

Signed agreements include projects in Detroit and St. Louis in the United States, Courmayeur in Italy’s Aosta Valley, and NEOM in Saudi Arabia, with expectations for continued global expansion through 2024 and beyond.

In the United States, Marriott has partnered with Roxbury Group for a Detroit, Michigan property, set to open in Q3 2024. This will involve converting The Plaza Apartments in Midtown Detroit, featuring around 92 units, a fitness center, and easy access to dining options.

Another collaboration with Midas Hospitality in St. Louis, Missouri, will see the development of a 50-unit property, co-located with a new Sheraton Hotel. This project, set in a historic 1929 building, will offer guests modern comforts while reflecting St. Louis's rich history.

In Italy, Marriott has teamed up with Castello Sgr for Le Géant in Courmayeur, Aosta Valley. The property, expected to house 47 units, aims to offer unique, locally-inspired living experiences.

In the Kingdom of Saudi Arabia, Marriott’s agreement with NEOM will bring the brand to the luxury island of Sindalah. This property, scheduled to open in 2024, will feature 218 units, including studios and apartment-style units with full amenities, along with a gym and swimming pool.