Looking to the future, adds McPherson, “we have set ambitious goals for 2020. We plan to expand our lead in the luxury and full-service segments, to have the largest portfolio in the upscale tier and to win with Millennials in the affordable lifestyle category.”

All told, Marriott expects to earn $675 million in stabilized fees from rooms added between 2017 and '19. In addition, non-property related franchise fees, largely credit card branding fees, should increase by $100 million over the three-year period. The plan assumes, but does not forecast, RevPAR growth between 1% and 3% compounded annually through '19.

BETHESDA, MD—Marriott International, now the world's biggest lodging company following its merger with Starwood Hotels & Resorts, intends to add between 285,000 and 300,000 new rooms worldwide over the next three years. That equates to opening one hotel every 14 hours between now and the end of 2019, the Bethesda, MD-based company said Tuesday in outlining its three-year growth plan.

“We are more optimistic than ever about our future,” says president and CEO Arne Sorenson. “Marriott has made a significant leap forward in distribution and scale with its once-in-a-generation acquisition of Starwood. With global travel estimated to increase at a 7% compounded rate over the next 10 years and international trips expected to top 1.8 billion by 2030, Marriott is well positioned to benefit given its strong global footprint now in 122 countries and territories and an unmatched portfolio of 30 lodging brands.”

The merger with Starwood increased Marriott's global footprint from 87 countries and territories at the end of 2015. Marriott now controls 8% of worldwide hotel rooms, including both existing hotels and its new construction pipeline. Over the next three years, the company expects net room growth to accelerate to an annual compound rate of 6.5%, compared to a 5% annual compound rate over the past three years, including the legacy Starwood brands.

A focal point of that growth, as outlined at the beginning of March, is expansion across Europe. “We added 40,000 rooms in Europe with the Starwood acquisition alone, and achieved our long-term goal to triple in size, from 40,000 open rooms in 2010 to 134,000 open or signed rooms at the end of 2016,” Amy McPherson, president and managing director, Marriott International, Europe, said two weeks ago.

Looking to the future, adds McPherson, “we have set ambitious goals for 2020. We plan to expand our lead in the luxury and full-service segments, to have the largest portfolio in the upscale tier and to win with Millennials in the affordable lifestyle category.”

All told, Marriott expects to earn $675 million in stabilized fees from rooms added between 2017 and '19. In addition, non-property related franchise fees, largely credit card branding fees, should increase by $100 million over the three-year period. The plan assumes, but does not forecast, RevPAR growth between 1% and 3% compounded annually through '19.