Marriott Aims to Double China Portfolio Over Five Years
Marriott International (NYSE: MAR) has signed management agreements for seven additional hotels in China and aims to double its presence in the country in about five years. Marriott's largest market outside of North America is China where the company expects to have 60 hotels open across six brands by year-end 2010, including eight flying the company's Ritz-Carlton flag.
Among properties opening this year in China are stunning Ritz-Carlton hotels in Hong Kong and Shanghai Pudong.
The seven newly-signed hotels are:
- The 320-room luxury JW Marriott Hotel Dalian, owned by Liaoning Baocheng Real Estate Development Co., Ltd. (2013). When opened, the hotel will be Marriott's first property in Dalian and ninth JW Marriott-branded hotel in China.
- The upscale 507-room Renaissance Sanya Resort & Spa, owned by Ranya Zhonggang Fishery Co., Ltd. (2011). When opened, it will be Marriott's third property in the greater Sanya area.
- The deluxe 269-room Renaissance Zhuhai Hotel owned by Guangyi Real Estate Development Co., Ltd. (2013) It will open as Marriott's first hotel in the city.
- The moderate-priced 260-room Courtyard by Marriott Fuzhou Hotel owned by Fuzhou Zhengfeng Real Estate.
