MARRIOTT INTERNATIONAL SIGNS AGREEMENT WITH ZHONG AN COMMERCIAL GROUP TO BRING W HOTELS TO HANGZHOU

Rhea-AI Summary

Marriott International has signed an agreement with Zhong An Commercial Group to bring the W Hotels brand to Hangzhou, China. The W Hangzhou is set to open in 2031 in Qianjiang Century City, Hangzhou's new CBD. The hotel will occupy the top floors of a 240-meter building in the IOC complex, featuring 270 guest rooms and suites, with about half offering direct river views. Designed by Kohn Pedersen Fox Associates, the hotel will include two restaurants, a bar, swimming pool, fitness center, and spa. It will also offer event spaces including a ballroom and meeting rooms. The location is approximately 15 km from Hangzhou East Railway Station and 24 km from Hangzhou Xiaoshan International Airport. This signing reinforces Marriott's expanding luxury portfolio in Greater China, which now includes over 70 luxury hotels.

Positive

• Expansion of Marriott's luxury portfolio in Greater China
• Strategic location in Hangzhou's new CBD with proximity to key landmarks
• 270 guest rooms and suites, with about half offering river views
• Comprehensive amenities including restaurants, bar, pool, fitness center, and spa
• Event spaces for social gatherings and meetings

Negative

• Long lead time with opening anticipated in 2031

News Market Reaction

-2.34%

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-2.34% News Effect

On the day this news was published, MAR declined 2.34%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHANGHAI, Aug. 1, 2024 /PRNewswire/ -- Marriott International, Inc. recently announced that it has signed an agreement with Zhong An Commercial Group, part of China New City Group, to bring the W Hotels brand to Hangzhou. Anticipated to open in 2031, W Hangzhou will be located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City, Hangzhou's developing new CBD. With its bold, detail-driven design, elevated service, and engaging always-on programming, the hotel is poised to become a new symbol of luxury hospitality in Hangzhou.

"We are thrilled to collaborate with Zhong An Commercial Group to introduce W Hotels to Hangzhou, inviting guests to indulge in the vibrant culture and dynamic spirit of this historic city through a distinct lens of luxury," said Gavin Yu, Chief Development Officer, Greater China, Marriott International. "We look forward to further expanding our luxury portfolio in Greater China, aligning W Hotels with complementary destinations to cater to the ever-evolving global luxury traveler."

Slated to open in Hangzhou's new CBD on the east bank of the Qiantang River, W Hangzhou's street-front location ensures excellent visibility and accessibility, approximately 15 kilometers from Hangzhou East Railway Station and about 24 kilometers from Hangzhou Xiaoshan International Airport. The hotel is adjacent to renowned landmarks and attractions, including the Hangzhou Olympic Sports Expo Center, a landmark complex in Qianjiang Century City, and the largest retail center in the area, InCity.

Designed by the renowned architectural firm Kohn Pedersen Fox Associates, W Hangzhou will occupy the top floors of a 240-meter building that will be part of the IOC complex. The hotel will feature 270 stylishly appointed guest rooms and suites, with approximately half of the rooms offering direct river views for a serene experience for guests. Guests will be able to enjoy two signature restaurants and one bar, a swimming pool, a FIT^@ fitness center, and the AWAY^@ Spa for rejuvenation. For social events and meetings, the hotel will offer a ballroom, a junior ballroom and four meeting rooms.

"We are excited to collaborate with Luxury Group by Marriott International on this landmark project within the IOC complex in Hangzhou," said Mr. Shi Guanyu, Vice President of China New City Group of Zhong An Group and President of Zhong An Commercial Group. " As a leading lifestyle hospitality brand, W Hotels aligns perfectly with the new CBD core advocated by IOC Hangzhou, where luxury seamlessly blends into the dynamic pulse of an international hub. This collaboration will inject the brand's distinct design and vibrant energy into Qianjiang Century City, providing an immersive luxury experience for both visitors and local residents alike."

Marriott International now boasts over 70 luxury hotels in Greater China. The signing of W Hangzhou further cements the company's growing luxury footprint, setting Hangzhou as one of China's premier destinations for luxury travelers.

About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,900 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program.  For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.  In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

About Marriott International Luxury Portfolio
With an unrivaled portfolio of eight dynamic luxury brands, Marriott International is creating authentic, rare, and enriching experiences sought by today's global luxurian. Spanning all corners of the world, Marriott International's luxury brands group offers a boundless network of more than 510 landmark hotels and resorts in 70 countries and territories through The Ritz-Carlton, Ritz-Carlton Reserve, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels. From the world's most iconic destinations to the ultimate undiscovered gems, the international hospitality leader's collection of luxury brands is focused on elevating travel with highly contextualized, nuanced brand experiences that signal the future of luxury by allowing guests to indulge their passions while sparking personal growth.

About W Hotels
Born from the social electricity of New York City, W Hotels has been at the forefront of lifestyle hospitality for over two decades. With nearly 70 destinations around the world, the detail-driven design, signature Whatever/Whenever service, and buzzing Living Rooms cultivate experiences of social connectivity. Each location brings together the magnetic energy of W Hotels and the essence of local culture, creating spaces for new perspectives and a freedom of self-expression. W Hotels is currently undergoing a multi-year brand evolution, to meet the needs of today's guest and deliver a new generation of luxury lifestyle experiences. For more information on W Hotels, visit w-hotels.com and stay connected on Instagram, TikTok, X, Facebook, and YouTube. W Hotels is proud to participate in Marriott Bonvoy^®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com.

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SOURCE Marriott International, Inc.

FAQ

When is W Hangzhou expected to open?

W Hangzhou is anticipated to open in 2031.

How many rooms will W Hangzhou (MAR) have?

W Hangzhou will feature 270 guest rooms and suites.

Where will W Hangzhou be located?

W Hangzhou will be located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City, Hangzhou's new CBD.

What amenities will W Hangzhou (MAR) offer?

W Hangzhou will offer two signature restaurants, a bar, swimming pool, FIT@ fitness center, AWAY@ Spa, a ballroom, a junior ballroom, and four meeting rooms.