By Will Feuer
Marriott International grew its tally of rooms around the world by 4.7% last year, above the company’s previous forecast of 4.2% to 4.5%.
Marriott is looking to accelerate its pace of room growth over the next few years. The hotel giant is targeting annual room growth of 5% to 5.5% through 2025. The company will get a boost this year from its licensing agreement with MGM Resorts International.
For 2023, Marriott said its $100 million takeover of City Express helped boost its tally of rooms, especially in the affordable midscale segment, a quickly growing space.
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