Marriott planning thousands of new hotels by 2021

The hotel giant made the announcement Tuesday that it’s planning to add between 275,000 to 295,000 rooms by 2021.

The new rooms would add $400 million in fee revenue in 2021 and $700 million annually when stabilized, according to a news release.

The company credited its growth to a rich loyalty program, profitability of current hotels and a range of brands by Marriott.