12 December 2022, etc.venues Monument, London
Business Travel Show Europe, presented by The BTN
21 November, London Hilton Metropole
First property to open in Munich
Marriott International is to open its first Residence Inn in Europe in Munich in 2011.
J W Marriot Jr, the chairman and ceo, said the group planned to expand the long stay brand into countries across Europe including the UK, France and Italy.
It is also "interested" in developing the brand in Eastern Europe.
Mr Marriott, speaking at an international press briefing in London today (April 22), said there were already 573 Residence Inns, mainly in the States and he was "thrilled" it was now coming to Europe.
Mr Marriot said Marriott planned to go on growing its business despite the state of the world economy.
Two new properties had just opened in the UK, a third was under construction and there were worldwide 770 hotels, with more than 115,000 rooms in the pipeline which will be opened in the next four years.
Mr Marriott, son of the founder of the chain, said the bulk would be Courtyard properties, mainly in the US but also in Europe, China, India and South America.
He said the group was "suffering like everyone else with the drop in business."
But he said it "comforting to see a market that has a plus in revPAR (revenue per available room)."
Mr Marriott said the group had a lot of liquidity, was reducing its debt and was "sound and strong."
He was already seeing "green sprigs springing and hopefully we will be out of this in a year or a year and a half."
He said the "green sprigs" were appearing in the US with transient leisure "pretty strong" and the market in transient business travel had bottomed out. Mr Marriott said there were also good sings from US manufacturing and the US Stick market that things were now improving.
"We are seeing the first signs of spring but I would not say it was overwhelming," he said.
Kevin Kearney, Marriott's executive vp international development, said one of the key markets for the chain was Russia where it planned to add to its existing seven properties, with 20-25 new Courtyards, new Renaissances in Moscow and other cities and new project to be announced next week.
Mr Kearney said that other key markets included China where it had 41 hotels and 21 under construction and India where there were six properties and 23 being built.