Home K Hotel Industry News K Marriott reveals some info about new midscale brand ( Page )

Marriott reveals some info about new midscale brand

by | Jun 6, 2024 | Hotel Industry News, Hotel News

Project Mid-T by Marriott conversions will cost between $15-30K per room with a “low bundled fee” of 10.5%.

Note: This story first appeared in Travel Weekly

NEW YORK CITY – Marriott International has released details about its new midscale brand, which is under development under the working title Project Mid-T by Marriott. Marriott CEO Anthony Capuano had previously announced plans for the “conversion-friendly midscale brand” during the company’s Q1 earnings call in May. At the NYU International Hospitality Industry Investment Conference this week, the company offered a look at renderings of the brand, which will have a “modern, clean design,” according to Diana Plazas-Trowbridge, senior vice president and global brand leader for Marriott’s select-service brands. Hotels will also offer free breakfast and a fitness center. The average daily rate is expected to be in the $90 to $100 range. “This traveler is looking for something in that affordable segment, for either business or for leisure, but have all basic needs met,” Plazas-Trowbridge said. A Project Mid-T conversion is projected to cost approximately $15,000 to $30,000 per guestroom. The brand’s “low bundled fee” of 10.5% — inclusive of franchise, marketing and loyalty fees, among other charges – is expected to be appealing to property owners, according to Noah Silverman, Marriott’s global development officer for U.S. and Canada. “We think it’s a very compelling financial offering to franchisees,” Silverman said. “That’s where we see a competitive advantage from a franchising perspective.” Plazas-Trowbridge said that Marriott expects to reveal Project Mid-T’s official name sometime before the third quarter. Project Mid-T’s rollout comes as Marriott places a major focus on expanding its midscale presence. Marriott made its foray into the midscale sector in 2022 with its acquisition of the City Express brand in Mexico. The company then extended further into the space with last year’s launch of StudioRes, a midscale extended-stay concept, and Four Points Express by Sheraton, a midscale flag focused in Europe, the Middle East and Africa.

Read full article here

More Hotel Industry News

About Timm Hotel Broker

Whether you are looking to buy a hotel or sell a hotel, Timm & Associates looks forward to the opportunity to work with you. We are dedicated to helping your company reach its goals and objectives.

At Timm & Associates, we approach each hotel transaction with the highest level of integrity and with the highest regard for the parties involved. 

Active Listings

STAY CONNECTED!

Sign up to our email list and stay connected to our latest properties!