Developer interest in full-service brands has cooled overall, but Marriott’s Noah Silverman said the addition of new brands like Delta Hotels, along with the company’s soft brands, give the company a platform to grow in the space.
NEW YORK—With looming concerns about maintaining profitability and a possible downturn, much of the developer interest these days seems to be focused on leaner select-service hotels. But Marriott International’s Noah Silverman said his company still has some room to grow in the full-service space.
Silverman, the company’s chief development officer for full service in North America, said the addition of new brands such as Delta Hotels and the soft brands Luxury Collection, Autograph Collection and Tribute Portfolio give Marriott ample ammunition to draw investors’ attention to full-service brands.
“While there’s certainly some, I think, traditional full-service hotels maybe where the interest level among the development community has declined over the years—that kind of traditional, full service, 300-room, suburban hotel with 25,000 square feet of meeting space—the interest in those hotels has ceded to select service in those markets,” he said. “We’re still seeing a lot of interest and activity within the full-service space.”
Watch the video below for more on Silverman and Marriott’s expectations for full service hotels going forward.