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.