Marriott International has recently signed branded residences agreements in: Detroit; Muskoka, Canada; Gulf of Papagayo, Guanacaste, Costa Rica; and Jeddah, Saudi Arabia; bringing the Marriott Branded Residences total open and pipeline portfolio to about 300 projects.
Celebrating its 25th year in branded residences, the company’s open and pipeline residential portfolio spans 17 brands and 50 countries and territories.
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," Dana Jacobsohn, chief development officer, North America Luxury Brands and Global Mixed-Use, said in a statement. "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. 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 designed to provide an elevated lifestyle and curate a deep sense of community for residents, according to the company. 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.
“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.”
New Signings
The Residences at The Detroit EDITION: Marriott and Bedrock have announced a partnership to unveil The Residences at The Detroit Edition, bringing the Edition brand to Detroit. Located in 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 design, service, amenities and entertainment. The introduction of the Edition brand to the Midwest demonstrates the growing interest for luxury lifestyle options. Today, the Edition brand has four open residential properties globally, with seven in the pipeline.
The Ritz-Carlton Residences, Muskoka: Located in a 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.