New Brand Launches Largest in Decades
Source: PricewaterhouseCoopers
NOVEMBER 30, 2007. According to PricewaterhouseCoopers, there were a total of 34 new hotel brand launches in the U.S. in the 34 months between 2005 and year-to-date October 2007. That's the largest number of brand introductions in a three-year period since 1989. The new hotel brand launches included non-U.S. brands affiliating with hotels in the U.S., new concepts targeted at Gen-Xers and Millennials, independent brands, and brands affiliated with established lodging companies.
The brand introduction trend was led by the luxury hotels segment, which had approximately 18 new brand introductions between 2005 and year-to-date October 2007, which is the largest number of luxury brand introductions in a three-year period since 1982.
A number of factors, including above-average supply growth, record average daily rates, demographic changes, consumer preferences, and availability of financing have contributed to record levels of brand introductions in the U.S. lodging industry over the last three years.
"Among many factors resulting in this record number of brand launches is the internet. A simple search will reveal these hotels and new brands, for which it is possible to take a virtual tour, read comments from guests and make an informed decision to stay at a hotel that might not have been otherwise considered," says Bjorn Hanson, Ph.D., a principal with PricewaterhouseCoopers.
PricewaterhouseCoopers (http://www.pwc.com/) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 146,000 people in 150 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
"PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
