Hotel giant Marriott outlined a three-year plan to launch more than 1,700 hotels all over the globe. They also aim to return up to $11 billion to shareholders and intend to make a full-year profit of about $8.50 per share by the time 2021 rolls in.
Closer Look into The Numbers
The brand already owns the Ritz-Carlton and St. Regis, both well-known luxury hotel brands and plans to add rooms of about 75,000 to 295,00 over the next three years. The move has the potential to generate fee revenues amounting to as much as $400 million in 2021 and can reach about $700 million annually once it stabilizes.
Testing the Theory
Marriott is already considered to be the world’s largest hotel company. But with more than 6,900 hotels spread all the world over, it seems that the brand isn’t thinking of stopping any time soon, as it plans to supercharge growth over the next three years. Following its strategy of “not standing still,” the company is focusing efforts on how to offer scale and quality service.
It’s All About Quality
The brand’s growth strategy is clear: it wants to continue providing high-end accommodation spaces that are aligned and wholly demonstrate the company’s brand and quality standards. It all comes down to quality and believe firmly that delivering top-notch services will give them the wallet share they want.
Learning the Lesson
Prospective property investors can learn a lot from Marriott’s plans. With an emphasis on providing quality customer service, the brand gives potential investors a good lesson on how to keep the business going. Those who may be thinking about putting money in a hotel property for sale or what to diversify their portfolio through hotel ownership can stand to gain a lot by applying the same principles in their hotel management strategy.
Choose the right property to invest in, though. Reach out to brokers who specialize in hotel sale searches. That way, you won’t need to worry about wasting time on the search. You can focus on creative solutions and plans for your soon-to-be business. Find a professional to help you come up with a list of prospects that you can explore and check out. With a broker to get you the information you need, finding the best investment property should be a breeze.
Invest in a hotel property for sale. Talk to NewGen Advisory and find out what your options are.