Marriott uses Buxton and CoStar to identify new locations during site selection process.
Eric Jacobs, chief development officer for Marriott North America, explains the site selection process his team currently follows using Buxton and CoStar. Through Buxton and CoStar's new strategic relationship, retail brands can accelerate their site selection process and increase speed to market.
Hi, I’m Eric Jacobs, Chief Development Officer for Marriott International here in North America.
Our current goal at Marriott is to identify, obviously, the best opportunities across thirty different brands. So how do we do more, faster, but more thoughtfully? One of the litmus tests we always use is right brand, right location, right number of rooms at the right time, balancing both growth initiatives for the company while not cannibalizing our other hotels in the local market.
Our team uses CoStar and Buxton simultaneously with the data analytics and the opportunity pockets that we’re able to create within Buxton to identify where the demand is going and where we should be, and we step out and we go into CoStar and we kind of overlay that in there to try to understand where the real estate may be available within that opportunity pocket, and then we can target very specifically those opportunities. And so Buxton and CoStar coming together and being integrated into one platform really will give developers, retailers, brand folks real market data and information about making the right decisions at the right time in order to maximize everybody’s returns.