Marriott International Inc. (NASDAQ: MAR) announced plans to expand its new Apartments by Marriott Bonvoy brand offering through new development agreements in the U.S., Italy and Saudi Arabia.
The brand offers premium and luxury apartment-style accommodations where guests can expect private bedrooms, a separate living room, full kitchen, and in-unit washer and dryer.
The company signed an agreement with Roxbury Group for an Apartments by Marriott Bonvoy in Detroit that will convert the 92-unit Plaza Apartments in Midtown Detroit. Marriott is also announcing a new project with Midas Hospitality, a longtime owner and operator of Marriott properties, for an Apartments by Marriott Bonvoy in St. Louis based in a historic building that was constructed in 1929.
In Courmayeur, Aosta Valley, Italy, Marriott signed an agreement with Castello Sgr, an asset management company with strong hospitality expertise, to open Le Géant, an Apartments by Marriott Bonvoy property. This property is anticipated to have 47 units. Marriott also signed an agreement with NEOM to bring a 218-unit Apartments by Marriott Bonvoy to the luxury island destination Sindalah on the northwest coast of Saudi Arabia.
The new agreements follow the recent opening of Marriott’s first Apartments by Marriott Bonvoy property, Casa Costera, Isla Verde Beach, in San Juan, Puerto Rico.
“Marriott is thrilled to bring Apartments by Marriott Bonvoy to our development community around the world,” said Marriott International Chief Financial Officer and Executive Vice President of Development Leeny Oberg. “This new, compelling offering provides residential and hotel developers an excellent value proposition for new builds and conversion opportunities. As guests are increasingly blending work, personal and family travel, they are looking for a distinct and locally inspired solution to meet their longer-stay needs.”
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