Marriott International Signs Agreement To Debut The Luxury Collection And AC Hotels To Shenzhen, A Major Hub In Southern China
Portfolio Pulse from Benzinga Newsdesk
Marriott International has signed an agreement with Shum Yip Holdings to introduce The Luxury Collection and AC Hotels to Shenzhen, China, expected to open in November 2028. This expansion aims to cater to luxury travelers and strengthen Marriott's presence in southern China.
October 18, 2024 | 1:04 pm
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Marriott International is expanding its luxury hotel offerings in Shenzhen, China, through a partnership with Shum Yip Holdings. This move is part of Marriott's strategy to strengthen its presence in key Chinese destinations.
The agreement to open new luxury hotels in Shenzhen aligns with Marriott's strategy to expand its presence in key markets, potentially boosting its brand value and market share in China. This is likely to positively impact Marriott's stock in the short term as it demonstrates growth and commitment to the Chinese market.
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