How Marriott and Marriott Rewards are getting more people to use Marriott hotels
The Marriott brand has been the cornerstone of luxury hotels worldwide since the 1920s, and it’s been growing at a steady pace ever since.
Its growth has continued to accelerate in the last few years, with a new record hotel occupancy rate of 9.9% in 2019.
The increase in occupancy rates is up from 8.6% in 2016 and 7.8% in 2015, but the company is also seeing a significant jump in hotel guests.
According to research firm Technomic, the number of hotel guests increased by 9.3% in the first nine months of 2020.
That’s the second straight year the number is increasing, and the first time it’s happened since the brand was introduced in 1928.
With that growth comes more room to operate, as well as more opportunities for people to go to hotels.
That could mean more people checking out, which can help Marriott increase revenue.
The brand is also finding that people are spending more money in its hotels, and more people are visiting Marriott properties than ever before.
The company expects its occupancy rate to rise another 5% in 2020, and its occupancy growth is expected to accelerate to a new high of 14% by 2022.
And that’s only in hotels.
The firm expects that Marriott will increase hotel occupancy rates in all of its properties by an average of 8% in 2021.
The real estate industry has always been known for its high occupancy rates, and Marriott has done a pretty good job keeping them high for years.
That said, it’s not just hotels that have seen a significant increase in hotel occupancy over the last decade, and those trends have continued into the new year.
In 2017, the average occupancy rate in hotels in the U.S. was just over 9%.
By 2019, it had jumped to 12.9%.
That’s a huge jump, and in 2020 it’s expected to be over 17%.
That number is going to continue to climb, which could mean a lot more people going to hotels and even a significant uptick in occupancy.
With occupancy rates continuing to rise, hotel occupancy is on the rise again.
In 2020, the median occupancy rate for all hotels was 10.9%, and the occupancy rate climbed to 13.4% by 2019.
By 2021, it will be at 13.9%; by 2022 it will likely be over 18%.
With hotel occupancy continuing to climb so quickly, the brand is going from a relatively safe bet to a more profitable one, and that’s going to be a good thing.
As long as Marriott stays at the top of its game and stays on track to keep its occupancy rates high, the company will be well-positioned to continue growing revenue for years to come.
The new hotel occupancy figures have a lot to do with how hotel occupancy has been going over the past several years, and they also show the growth of Marriott hotels and their growth is not just limited to hotels; the brand has also been expanding into the more traditional tourist markets, which is a positive trend for the brand.
And with that growth, the Marriott brand will continue to make money.
And it will continue making money because it’s a global brand, and as long as it stays on its game, it can keep its luxury hotels profitable.