Marriott International has signed two development agreements to expand its footprint in Greater China and Saudi Arabia. The company will partner with CG Hospitality Global to develop about 100 Series by Marriott hotels in Greater China, and with Blacksand to develop ten new hotels in Saudi Arabia. Both deals focus on Marriott's asset-light model, relying on management and franchise fees rather than real estate ownership. The agreements align with Marriott's strategy of global expansion and mid-scale growth, particularly in the APAC and EMEA regions, while also adding regional risk tied to travel demand and regulatory conditions in those markets.
Marriott International IncMarriott signs deals for 100 hotels in Greater China and 10 in Saudi Arabia, expanding its footprint and future revenue from management fees.