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MARRIOTT INTERNATIONAL REPORTED record growth in 2024, opening 123,000 gross rooms and achieving 6.8 percent net room growth. The company ended the year with more than 577,000 rooms in its development pipeline and signed more than 1,200 deals-an average of three per day-totaling nearly 162,000 rooms globally. The company signed a record 608 deals in the U.S. and Canada last year, Marriott said in a statement. "2024 was a year of growth for Marriott, with regional milestones, segment entries, brand expansions, and market debuts," said Anthony Capuano, Marriott's president and CEO. "We remain focused on connecting people through travel, and I'm excited about the work our global teams are doing to drive growth, innovation, and deliver strong results for our owners and franchisees."

MARRIOTT INTERNATIONAL REPORTED a 3 percent increase in global RevPAR, with 2.1 percent growth in the U.S. and Canada and 5.4 percent in international markets for the third quarter. Net income totaled $584 million, and approximately 16,000 net rooms were added during the quarter. "Marriott had another solid quarter, highlighted by strong net rooms and fee growth, robust development activity, and a 3 percent increase in global RevPAR," said Anthony Capuano, Marriott's president and CEO. "Third-quarter international RevPAR rose 5.4 percent, led by gains in APEC and EMEA, with resilient domestic and cross-border demand and solid ADR growth. U.S. & Canada RevPAR increased over 2 percent year-over-year, with ADR up 2.3 percent." Capuano noted the group segment stood out, with global group RevPAR rising 10 percent and expected to grow 8 percent for 2024. "RevPAR for the business transient segment continued to grow, while leisure transient RevPAR remained flat year-over-year but still well ahead of pre-pandemic levels," he said.

PEACHSTATE HOSPITALITY RECENTLY selected TPG Hotels & Resorts to manage 10 properties. The contract includes eight Marriott select service hotels and two IHG Hotels & Resorts select service hotels in Georgia. Both the firms have entered into an exclusive strategic agreement for the management of additional hotels in the current and future pipeline to be developed by PeachState Hospitality which is headed by Danny Patel as president and CEO, the statement added. "PeachState Hospitality is a leading owner and developer in our industry, and we are pleased to welcome them as a new partner and these exceptional properties into our portfolio," said Tim Muir, chief development officer, TPG Hotels & Resorts. "We look forward to growing our partnership as they accelerate their development platform over the next few years."

OFFICIALS OF THE "She Has a Deal" annual hotel investment pitch contest announced the five teams selected to advance to the final round of SHaDPitch 2023. The competition allows early career women to compete for the prize of $50,000 of equity in SHaD's Prosperity Fund I, following the conclusion of a virtual, preliminary round of pitching, SHaD said in a statement. SHaD 2023 will be held at the new Marriott Headquarters in Bethesda, Maryland, on April 27 to 28. According to the statement, the goal of SHaD is to increase the number of women owning and developing hotels. It provides participants with the ability to source, analyse, raise capital and close hotel real estate investment deals. During the preliminary judging round, eight teams comprising 15 participants pitched their hotel investment acquisition or development projects live on Zoom to a judging panel of hotel business executives, entrepreneurs, and investors. The judges evaluated and selected the following five teams: Sydney Young and Rachel Nicholson with SpartanStone, graduates of Michigan State University, pitching a La Quinta Inn & Suites in Lewisville, Texas. Chandler Williamson with Chanders Core Commitment, graduate of North Carolina Central University, pitching a Hilton Garden Inn in Raleigh/Durham, North Carolina. Isabella Suffredini, Veronica Lewis and Alexandra Neoman with CROWN, graduates of Cornell University, pitching a TownePlace Suites in Houston, Texas. Makenna Price with Hookipa Hospitality, graduate of Washington State University, pitching a Fairfield Inn & Suites in Ft. Lauderdale, Florida Allison Busch and Hannah Takekawa with AH Hospitality, graduates of San Diego State University, pitching a Staybridge Suites in Austin, Texas "Every year, I grow more encouraged that we are making an impact," said Tracy Prigmore, founder of SHaD. "These are brilliant women who benefit from the education and programming that SHaD provides, and their hotel investment acumen has grown by leap