Of particular note were India, Japan and Indonesia, which came in as the highest growth markets in APEC for 2024. These three countries represented 72% of Marriott’s deal signings in APEC, with 7,000 (India), 5,000 (Japan) and 2,000 (Indonesia) rooms being added to its portfolio, reflecting a surge in the countries' domestic and international travel. Multi-unit agreements and conversion opportunities played a key role in the region's pipeline growth, with conversions representing 36% of 2024's signing.

One such example was the debut of the Four Points Flex by Sheraton Osaka Umeda, which also marked Marriott's 100th property in Japan. Other landmark achievements include the openings of Adelaide Marriott Hotel, Australia (600th property in APEC), Katra Marriott Resort & Spa (150th property in India) and Penang Marriott Complex (50th property in Malaysia).

Shifting travel preferences and spending habits

The hotel chain is also keeping a close eye on emerging trends in APEC. Marriott International’s managing director, luxury, APEC Oriol Montal pointed to a growing trend across the region favouring more cost-conscious travel. "We've found that more than 80% of Gen Z would rather dip into their savings for a luxury vacation than luxury goods," he said. These younger generations prefer to seek accommodations that offer the essential amenities for a comfortable stay while allowing them to explore unique activities, dining and once-in-a-lifetime experiences.”

Rajeev Menon, APEC president for Marriott International highlighted how a greater focus on the midscale market positions Marriott to cater to younger, budget-conscious travellers: "Our midscale offerings align with and tap into this growing, travel-focused demographic. To meet the needs of this segment, Marriott emphasises smart, functional design and essential amenities such as multi-purpose common spaces, tech-enabled rooms and high-speed Wi-Fi to cater to younger travellers' preferences for connectivity, comfort and efficiency."

Business travellers are also increasingly seeking cost-effective, functional and comfortable accommodations that allow them to focus on their work and local business activities. Marriott's midscale offerings, like the Four Points by Sheraton Bangkok, Sukhumvit 22, are poised to meet these needs by offering practical amenities such as fast Wi-Fi, flexible check-in times and accessible locations near major business districts.

By Evigan Xiao