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Over the last several years, new brands have been rolled out at a dizzying pace by the major franchise companies, all of whom are searching for any white space they can find to grow distribution and consumer loyalty.
percent for the full year 2024, and over 577,000 rooms in the companys development pipeline at year-end. Marriott International, Inc. announced a year of global growth, with a record 123,000 gross rooms openings, net rooms growth of 6.8 Marriott continued to expand its product offerings across travel purposes and segments.
CHICAGO—Hyatt Hotels Corporation announced growth in its select service pipeline, with an around 25 percent increase in the Americas over the past three years. As of June 30, 2024, this segment represents over 50 percent of Hyatt’s total pipeline in the Americas.
TYSONS, Virginia—Cvent announced that it has acquired Splash, an event marketing technology company. Splash’s platform allows marketers to create on-brand, measurable, and repeatable event programs that drive pipeline and sales.
which is expected to add over 9,000 rooms to Marriott’s portfolio by year-end and approximately 1,500 rooms to its pipeline. Marriott International, Inc. announced a long-term licensing agreement with Sonder Holdings Inc.,
TFE Hotels has signed a multi-property management agreement with New Zealand’s Heritage Hotels, which will see half of the Heritage portfolio refurbished and rebranded under the Adina and Rendezvous brands. TFE Hotels is set to establish a New Zealand Country Office in Auckland to support its growing presence in the market.
Breaking into the markets of Las Vegas, Nevada (with a second hotel opening later this month); Moreno Valley, California; and Orlando and Tampa, Florida; 16 of the 17 hotels opened across the two brands are conversions, with the average length of time between contract signing and doors opening around 120 days.
Apartment hotels brand Quest is set for a major expansion in China under a 50:50 joint venture partnership between Ascott China and Jin Jiang Hotels signed this week. Ascott’s international expertise in the operation of serviced residences will drive the development of TULIP LODJ into a high-quality apartment hotel brand.
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