Serviced ApartmentsThe hotel giant is expanding its presence in serviced apartments with the launch of Apartments by Marriott Bonvoy.

Marriott launches new brand for serviced apartments

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Yeouido Park Centre, Seoul - Marriott Executive Apartments
Yeouido Park Centre, Seoul - Marriott Executive Apartments

Marriott International is expanding its presence in serviced apartments with the launch of Apartments by Marriott Bonvoy.

Marriott Executive Apartments has long served guests in Asia, Europe, the Middle East, Africa and Latin America with upper-upscale serviced apartments. The new brand will extend the concept into the US and Canada.

Marriott said the new brand is designed to meet growing demand from "families and friends seeking more space for stays, propelled by the blending of work and leisure travel, and desire among younger travellers for wider accommodations options."

Apartments will feature a separate living room and bedroom, a full kitchen and an in-unit washer and dryer.

The concept will be differentiated from Marriott's extended-stay brands (Residence Inn, TownePlace Suites and Element), which have traditional hotel amenities like food and beverage options, meeting spaces and retail.

Apartments by Marriott Bonvoy locations will be positioned slightly higher on the pricing ladder than Marriott's core extended-stay portfolio, playing in the upper-upscale and luxury segments. Marriott's extended-stay hotel brands are positioned as upper-midscale and upscale.

Marriott's push further into serviced apartments comes as hybrid apartment-hotels and short-term rentals continue to flourish. According to vacation rental data-analytics group AirDNA, demand for short-term rentals has hit record levels in the US, with demand projected to grow an average of 20.3% from 2021 to 2022.

Source: Travel Weekly

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