Marriott International recently unveiled details about its latest midscale brand in development, known internally as Project Mid-T. The concept was introduced by Marriott CEO Anthony Capuano during the company’s Q1 earnings call in May, emphasizing a “conversion-friendly midscale brand” to cater to a specific market segment.
According to Diana Plazas-Trowbridge, senior vice president and global brand leader for Marriott’s select-service brands, Project Mid-T is designed with a modern and clean aesthetic. The brand focuses on offering essential amenities such as free breakfast and a fitness center to cater to both business and leisure travelers seeking affordability. The target average daily rate for Project Mid-T is set to be between $90 to $100, making it an attractive option for budget-conscious travelers.
One of the key selling points for property owners looking to invest in Project Mid-T is the projected cost of conversion, estimated to be around $15,000 to $30,000 per guestroom. Additionally, the brand offers a “low bundled fee” of 10.5% that covers franchise, marketing, and loyalty fees, providing a competitive financial package for potential franchisees. Noah Silverman, Marriott’s global development officer for U.S. & Canada, expressed confidence in the brand’s appeal to property owners due to its financial structure.
Marriott is set to unveil the official name of Project Mid-T in the coming months, indicating a strategic rollout plan for the brand. The introduction of Project Mid-T aligns with Marriott’s larger strategy of expanding its presence in the midscale sector. This initiative builds on Marriott’s initial entry into the midscale market in 2022 with the acquisition of the City Express brand in Mexico, further solidifying its position in the segment.
Marriott’s Project Mid-T represents a significant step in the company’s efforts to diversify its brand portfolio and tap into the growing midscale market. With a focus on affordability, essential amenities, and a competitive financial package for property owners, Project Mid-T aims to establish itself as a preferred choice for travelers seeking a comfortable and convenient stay. As Marriott continues to expand its midscale presence, Project Mid-T stands out as a promising addition to the company’s brand offerings.