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Travel + Leisure
2 days ago
- Business
- Travel + Leisure
There's a Platinum Marriott Bonvoy Status Tier You've Never Heard Of—and It Costs More Than $1 Million
When Boston's newest skyscraper is finally completed later this year, the mixed-use development soaring above South Station will symbolize Marriott International's decades-long effort to diversify its residential portfolio. The 680-foot tower is crowned by 166 luxury Ritz-Carlton residences, featuring floor-to-ceiling windows with city and harbor views. Twenty-five years after the opening of The Ritz-Carlton Residences, Washington D.C., which was the first branded residential project for Marriott, the company now has 300 similar offerings, either open or in development. These are across 17 brands, including The Ritz-Carlton, W, St. Regis, JW Marriott, and Edition. The variety of options includes full ownership of branded residences, extended-stay furnished apartments, and vacation villas. 'Customers love our brands, and they love this special lifestyle that they can buy into,' says Dana Jacobsohn, chief development officer for U.S. luxury brands and global mixed-use at Marriott International. Organized kitchen for cooking and hosting in your suite. Courtesy of The Ann Savannah The perks associated with ownership are music to a Marriott Bonvoy members' ears. Approximately 93 percent of Marriott residential owners are already Bonvoy members, the company reports. New homeowners earn Bonvoy status depending on the brand their residence is tied to; Those purchasing a unit in The Ritz-Carlton Residences receive Platinum status. (Prices at The Ritz-Carlton Residences, Boston, South Station Tower start at $1.3 million.) But company leaders emphasize that this isn't your standard Bonvoy Platinum status. Residence owners also tap into a new program called Onvia, an owner recognition platform that includes benefits such as preferred rates at Marriott-affiliated hotels worldwide, exclusive perks when booking a voyage on The Ritz-Carlton Yacht Collection, and access to a variety of exclusive partnerships, events, and activities. Additionally, once owners put down a non-refundable deposit on their future home, they can enjoy the benefits of elevated Bonvoy status for a period of two years. 'Our hope is that with that elevated status you start with, you'll travel and earn a higher status,' Jacobsohn says. 'Once you're a loyal customer, that status typically just comes so easily.' Marriott's residential options are expanding and now include a variety of ways to experience the company's hotel brands. The upcoming W Cleveland, slated for completion in late 2026, will feature Marriott International's first branded apartment rental, with 12-month leases (at minimum). While W will be the first Marriott-affiliated brand to offer rental units, additional brands could follow, adds Jacobsohn. For travelers who prefer not to sign an ownership agreement or a 12-month lease, Marriott has an alternative in store. The Ann Savannah, Apartments by Marriott Bonvoy, boasting 157 accommodations ranging from studios to four-bedroom lofts, opened earlier this year in Georgia as the first hotel of the new Apartments by Marriott Bonvoy brand. It caters to different types of travelers, from those in town for the weekend to those seeking a much longer stay. And it provides an elevated experience compared to roadside extended-stay hotels. A closer look at the fully stocked kitchen in the suites of The Ann Savannah. Courtesy of The Ann Savannah For starters, The Ann Savannah isn't highway-adjacent; instead, it is cloistered in downtown Savannah, just around the corner from one of the city's must-visit restaurants, The Grey. The hotel's residences include full kitchens, in-suite laundry, and well-furnished living spaces. 'People are extending the amount of time they can work out of a place, particularly in the summer,' explains Peggy Roe, executive vice president and chief customer officer at Marriott International. 'So, if they're going to do that, they want more of an apartment-style type of experience.' Another residential-style brand is Marriott Homes & Villas by Marriott Bonvoy, offering high-end vacation home rentals that allow guests to accrue or redeem points. The platform recently made a splash by aiming to ensure guests don't have to deal with rain during their stay through a new partnership with WeatherPromise, a service that pays travelers if there is excessive rainfall during their stay. Marriott's foray into residential hospitality also signals the broader evolution and appeal of blended travel, Roe says. 'From a customer standpoint, I think if you erased all the hotels today and you started over, you would probably see everybody [build for longer-term stays] a little bit more,' she explains. And with the rising popularity of bleisure travel and remote work, it looks like Marriott's long-term focus on alternative accommodations is hitting the mark.
Yahoo
02-06-2025
- Business
- Yahoo
Marriott International Celebrates Outstanding 25-Year Leadership in Branded Residences with Around 300 Projects in Open & Pipeline Portfolio
Marriott bolsters industry's largest residential portfolio with several signed agreements in desirable destinations around the world. NEW YORK, June 2, 2025 /PRNewswire/ -- Today, Marriott International, Inc. (Nasdaq: MAR), the industry leader in branded residential development, announces signed agreements in: Detroit, Michigan; Muskoka, Canada; Gulf of Papagayo, Guanacaste, Costa Rica; and Jeddah, Saudi Arabia; bringing the Marriott Branded Residences total open and pipeline portfolio to around 300 projects. Celebrating its 25th year as leading in branded residences, Marriott continues to capitalize on outstanding momentum with strong portfolio growth. The largest branded residential company globally, the company's open and pipeline residential portfolio spans 17 brands and 50 countries and territories. A pioneer in the segment, the Marriott Branded Residences portfolio has generated $7.2B in residential sales revenue for third-party developers in the last five years. In that same time period, the company has grown its residential portfolio by approximately 60 percent, with plans to more than double its existing portfolio in the coming years. "In the past 25 years, Marriott International has taken our branded residential portfolio to new heights. As we continue striving to meet expanding and dynamic hospitality interests, we are proud to work with best-in-class developers and designers to create unrivaled residential properties and amenities that resonate with homeowners," said Dana Jacobsohn, Chief Development Officer, North America Luxury Brands and Global Mixed-Use. "With plans to more than double our portfolio in the coming years, these recently signed agreements are perfect examples of the outstanding caliber of properties and locations we're bringing to market." Starting with The Ritz-Carlton Residences, Washington, D.C., which opened in 2000 as the company's first branded residences, each Marriott Branded Residence is meticulously designed to provide an elevated lifestyle and curate a deep sense of community for residents. To help deliver on that promise, Marriott offers Residence Owners access to Onvia, the company's fully integrated ownership recognition platform that opens up exclusive access to offerings such as elevated Marriott Bonvoy® Status, preferred Owner rates for select hotels, special culinary experiences, preferred access with The Ritz-Carlton Yacht Collection, and more. As a result of the dedication and service provided to residents, Marriott also recently became the first-ever hospitality company to receive official accreditation from the Accredited Association Management Company. "Our 14,000 Residence Owners choose to live with our brands because they know they can expect the best of the best. With nearly 100 years of hospitality expertise and 25 years in branded residences, Marriott is well-positioned to deliver world-class lifestyle experiences at every residential property," said John Hearns, Senior Vice President, Global Residential Operations. "Dedicated to cultivating a true sense of belonging for residents, our property associates bring warmth and attention to detail into everything they do, and I couldn't be prouder of the beautiful communities we've created for our residents." The Residences at The Detroit EDITION: Marriott and Bedrock have announced a partnership to unveil The Residences at The Detroit EDITION, bringing the world-renowned EDITION brand to Detroit. Located in the heart of downtown, the authentically designed luxury residences are reflective of the developer's passion and commitment to building momentum in the city. The residential component of the project is anticipated to comprise 97 units, each embodying the EDITION brand's best-in-class design, service, amenities and entertainment, all under one roof. The introduction of the EDITION brand to the Midwest demonstrates the growing interest for luxury lifestyle options. Today, the EDITION brand has 4 open residential properties globally, with 7 in the pipeline. The Ritz-Carlton Residences, Muskoka: Offering an opportunity to live on waterfront property on a forested private island, The Ritz-Carlton Residences, Muskoka are nestled within one of Canada's most storied and naturally beautiful island destinations. Developed by Toronto-based Density Group Limited, the property is set within a remote sanctuary and is set to comprise only 32 architecturally distinct homes, complete with expansive windows framing the surrounding forest and water. The Residences at the St. Regis Papagayo Resort: Located in one of the most lush, biodiverse destinations in the world, The Residences at the St. Regis Papagayo Resort are anticipated to comprise around 140 residential units, each reflective of the exquisite and bespoke design signature to the St. Regis brand. Led by developers Solana PA, S.R.L. and Industrias Turisticas Wafou, S.R.L, this co-located hotel and residences property will have design inspired by the local culture and its ocean surroundings. Residents will be able to enjoy amenities at the neighboring hotel, including the St. Regis Library, multiple swimming pools, a spa, an exclusive beach club, and an expansive outdoor space for celebrations and gatherings. The Residences at The St. Regis Jeddah: Marriott signed an agreement with Miyar Alshati Real Estate Company, Telal Al Wadi Real Estate Company and Saud Al Arifi Investment to introduce the iconic St. Regis brand to Jeddah in the Kingdom of Saudi Arabia. Anticipated to open in 2030, the project features a luxury hotel and 191 residences that will bring St. Regis' celebrated rituals, glamorous bespoke spirit, storied heritage, and signature Butler service to the coastal city. These signings are the latest for Marriott Branded Residences, as the company continues to see exciting growth in new and existing markets around the world. Additional recent and anticipated openings and signings include: Marriott Branded Residences Recent and Expected Openings: JW Marriott Residences, Grand Marina Saigon, Sea The Residences at Nekajui, A Ritz-Carlton Reserve JW Marriott Residences New Cairo, Al Jazi Marriott Branded Residences Recent Signings: The Residences at the Nashville EDITION The St. Regis Residences, Houston W Residences Al Marjan Island To learn more about Marriott Branded Residences, visit ABOUT MARRIOTT INTERNATIONALMarriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,500 properties across more than 30 leading brands in 144 countries and territories. Marriott operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties all around the world. The company offers Marriott Bonvoy®, its highly awarded travel platform. For more information, please visit our website at and for the latest company news, visit In addition, connect with us on Facebook and @MarriottIntl on X and Instagram. Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at or Marriott's news center website at which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the U.S. Securities and Exchange Commission, and any references to the websites are intended to be inactive textual references only. NOTE ON FORWARD-LOOKING STATEMENTSThis press release contains "forward-looking statements" within the meaning of United States federal securities laws, including statements related to our development pipeline; expected future project openings and portfolio growth; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. View original content to download multimedia: SOURCE Marriott International, Inc.
