Marriott International is expanding its presence in serviced apartments with the launch of Apartments by Marriott Bonvoy.
Marriott Executive Apartments has long served guests in Asia, Europe,
the Middle East, Africa and Latin America with upper-upscale serviced
apartments. The new brand will extend the concept into the US and
Canada.
Marriott said the new brand is designed to meet growing demand from
"families and friends seeking more space for stays, propelled by the
blending of work and leisure travel, and desire among younger travellers
for wider accommodations options."
Apartments will feature a separate living room and bedroom, a full kitchen and an in-unit washer and dryer.
The concept will be differentiated from Marriott's extended-stay
brands (Residence Inn, TownePlace Suites and Element), which have
traditional hotel amenities like food and beverage options, meeting
spaces and retail.
Apartments by Marriott Bonvoy locations will be positioned slightly
higher on the pricing ladder than Marriott's core extended-stay
portfolio, playing in the upper-upscale and luxury segments. Marriott's
extended-stay hotel brands are positioned as upper-midscale and upscale.
Marriott's push further into serviced apartments comes as hybrid
apartment-hotels and short-term rentals continue to flourish. According
to vacation rental data-analytics group AirDNA, demand for short-term
rentals has hit record levels in the US, with demand projected to grow
an average of 20.3% from 2021 to 2022.
Source: Travel Weekly