Marriott International has recently unveiled its plans for a new midscale brand, which is currently being developed under the working title Project Mid-T. This announcement was made by Marriott CEO Anthony Capuano during the company’s Q1 earnings call in May, signaling the company’s intention to introduce a “conversion-friendly midscale brand” to the market.
At the NYU International Hospitality Industry Investment Conference, Marriott provided a glimpse of what Project Mid-T would entail. The brand is set to have a modern and clean design, according to Diana Plazas-Trowbridge, the senior vice president and global brand leader for Marriott’s select-service brands. In addition, hotels under this brand will offer free breakfast and access to a fitness center, catering to the needs of both business and leisure travelers. The average daily rate for Project Mid-T properties is expected to fall within the $90 to $100 range, making it an attractive option for budget-conscious travelers.
The conversion to a Project Mid-T property is estimated to cost between $15,000 to $30,000 per guestroom. However, what sets this brand apart is its “low bundled fee” of 10.5%, covering franchise, marketing, loyalty fees, and other charges. According to Noah Silverman, Marriott’s global development officer for U.S. & Canada, this financial model is designed to be appealing to property owners, offering a competitive advantage from a franchising perspective. This strategic pricing is expected to drive interest among potential franchisees looking to partner with Marriott.
Future Plans and Expansion
Marriott is projected to announce the official name of Project Mid-T sometime before the third quarter, as the brand continues to gain momentum. The launch of Project Mid-T signals Marriott’s commitment to expanding its presence in the midscale segment, following its successful acquisition of the City Express brand in Mexico in 2022. The introduction of this new brand reflects Marriott’s strategic vision for growth and innovation within the hospitality industry.
The introduction of Project Mid-T represents Marriott’s latest endeavor to tap into the midscale market with a conversion-friendly brand that caters to the needs of budget-conscious travelers. With its modern design, complimentary amenities, and attractive financial incentives, Project Mid-T is poised to make a significant impact in the hospitality sector. As Marriott continues to focus on expanding its midscale presence, the future looks promising for Project Mid-T and its potential for success in the competitive hotel landscape.