Marriott reveals some info about new midscale brand
Marriott International has released details about its new midscale brand, which is under development under the working title Project Mid-T by Marriott. Marriott CEO Anthony Capuano had previously announced plans for the "conversion-friendly midscale brand" during the company's Q1 earnings call in May.
At the NYU International Hospitality Industry Investment Conference this week, the company offered a look at renderings of the brand, which will have a "modern, clean design," according to Diana Plazas-Trowbridge, senior vice president and global brand leader for Marriott's select-service brands.
Hotels will also offer free breakfast and a fitness center. The average daily rate is expected to be in the $90 to $100 range.
"This traveler is looking for something in that affordable segment, for either business or for leisure, but have all basic needs met," said Plazas-Trowbridge.
A Project Mid-T conversion is projected to cost approximately $15,000 to $30,000 per guestroom. The brand's "low bundled fee" of 10.5% -- inclusive of franchise, marketing and loyalty fees, among other charges -- is expected to be appealing to property owners, according to Noah Silverman, Marriott's global development officer for U.S. & Canada.
"We think it's a very compelling financial offering to franchisees," said Silverman. "That's where we see a competitive advantage from a franchising perspective."