Marriott International’s three-year expansion plan will add 285,000 to 300,000 rooms to their existing million-plus rooms. This growth plan would represent an annual 6.5% increase, keeping pace with the anticipated 7% increase industry growth expected in the next ten years. The $13.6 billion acquisition of Starwood Hotels in 2016 increased their footprint from operating in 87 countries to 122. Arne Sorenson, president and CEO of Marriott, described their plan as “once-in-a-generation” and said that they “are well positioned to benefit” from the industry’s expected growth given their plans to expand.
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