Marriott International continues to expand its portfolio, expecting to open 100 properties in Asia Pacific in 2021, bringing more brands and experiences to new destinations for guests across the region.
In 2020, the company celebrated its 800th milestone hotel opening in the region with 75 properties added to its portfolio during the year, representing more than one opening per week across the region. Nearly 27,000 rooms were added to the region's development pipeline in 2020 alone, in addition to the signing of Marriott's largest branded residences project with close to 4,200 units.
Greater China has led the global recovery to date, and the company expects to soon celebrate its 400th hotel in Greater China and its 50th hotel in Shanghai with the opening of JW Marriott Shanghai Fengxian in spring 2021. With this hotel opening, Shanghai has the distinction of reaching this important milestone for the company in Asia Pacific.
According to a joint report by consultancy Bain & Co. and Alibaba's Tmall Luxury unit, Mainland China is on track to become the world's largest personal luxury market by 2025 even seeing year-over-year domestic growth in 2020 despite the pandemic. To leverage this trend, Marriott International continues to strengthen its luxury portfolio with expected openings in 2021 such as W Changsha, W Xiamen, St. Regis Qingdao and The Ritz-Carlton Reserve Jiuzhaigou. With the anticipated opening of the Ritz-Carlton Reserve, China will be the first country in Asia Pacific to house all of Marriott International's luxury hallmarks.
Marriott's leisure bookings in China have been particularly strong, up over 25 percent year over year in the third quarter in Mainland China, demonstrating the resiliency of demand once consumers are comfortable that the virus is under control and restrictions can safely be lifted. The company is introducing more travel experiences across its brand portfolio, including at popular leisure destinations such as Mianyang in the Sichuan province with the expected opening of Sheraton Mianyang, as well in the culturally-rich destination of Nanjing with the anticipated opening of The Westin Nanjing Resort & Spa.
