Hotel demand is recovering across all sectors and geographies, according to Tony Capuano, CEO of Marriott International.
Group demand in the hotel industry has shown extraordinary strength during the third quarter of 2023: “The hotels aren’t changing physically, but hoteliers are being more thoughtful in how they book groups and fill out the calendar.”
Leisure demand remains strong, and business transient is slowly recovering.
Marriott’s hotels are adapting to new guest behaviours, particularly in group bookings, and are focused on striking a balance between group and transient business.
Conversions accounted for 25pc of Marriott’s room openings in 2023, and it signed 184 conversion properties with 65,000 rooms last year, including its partnership with MGM Resorts International.
