May 3, 2019 Owner & Franchise Communications

Announcing Homes & Villas by Marriott International

As you are aware, in April 2018, Marriott International launched a pilot of the home rental concept, branded Tribute Portfolio Homes, to a highly curated portfolio of homes in London. The pilot was expanded to Paris, Rome and Lisbon in October, enabling members to earn and redeem points across more than 340 curated homes in Europe.

Our goal throughout this pilot was to learn what guests are truly looking for when they are traveling with families or groups of friends, and if incorporating home rentals into Marriott’s business model could fill a need in the market.

The successful pilot verified this business opportunity and helped refine the future direction. The results showed home rentals are complementary to the Marriott International portfolio and incremental to our hotel business.

On Monday, April 29, Marriott announced the launch of Homes & Villas by Marriott International (HVMI). This will be a global expansion into home rentals, intended to enhance the value of the Marriott Bonvoy™ travel program. HVMI will enable Marriott Bonvoy members to stay with Marriott throughout any travel experience, enabling Marriott to keep pace with the changing competitive landscape and ultimately drive greater share of wallet.

Notable learnings and benefits from the pilot include:

Home rental guests stay on average three times longer than the typical hotel stay.
Nearly 90 percent of guests were already members of Marriott Bonvoy.
During the pilot, Marriott was able to procure new home rental search terms, and it is estimated that these terms drove 7,000+ halo bookings to Marriott.com.
Marriott’s quality assurance, as well as the ability to earn and redeem Marriott Bonvoy points, led guests to pay a premium price for its home rentals compared to other home rental companies.

At launch, HVMI will offer more than 2,000 premium and luxury homes and villas located in more than 100 markets across the U.S., Caribbean and Latin America, and Europe. Nearly 40 of these markets will be new to the company, and additional markets will be added as we move forward.

We appreciate your support and partnership. This opportunity to enhance the Marriott Bonvoy travel program will position us to further capture share with consumers and drive results for all.