Marriott International saw signings increase 21% last year to set it up for future growth
Iryna Tolmachova

Marriott International (NASDAQ:MAR) announced on Monday that the company's deal signings accelerated again in 2022.
The company said it signed an average of two deals a day for a total of 726 management and franchise agreements. That marked a 21% increase over the level of signings from 2021. In addition, Marriott's City Express transaction, announced it is expected to add around 17K rooms.
Marriott (MAR) noted that half of the 2022 rooms signed were in international markets, including key growth markets such as India, Saudi Arabia, Mexico, and the Caribbean. The hotel chain's global development pipeline totaled over 3K properties representing more than 496K hotel rooms at the end of the year, excluding the City Express rooms.
During the year, MAR added 394 properties, representing more than 65K rooms on a gross basis, growing the system 4.4%. Net rooms were up 3.1% after factoring in depletions.
At the end of 2022, Marriott's worldwide system consisted of nearly 8.3K properties and roughly 1.5M rooms in 138 countries and territories.
Looking ahead, Marriott (MAR) said it is poised to extend its lead in luxury with a record 42 luxury hotel agreements signed last year, representing nearly 8K rooms.