Marriott International announced it is set to open nearly 40 luxury hotels in 2018 as the company continues to cater to a new affluent traveler demographic. Marriott International Luxury Brands includes The Ritz-Carlton, Ritz-Carlton Reserve, St. Regis, W Hotels, The Luxury Collection, EDITION and JW Marriott.

Marriott also revealed plans to expand its luxury footprint even further with 200 hotels in the development pipeline, representing 25 new countries, from Iceland and Nepal to Cuba and the Philippines.

"From former palaces in Venice and Vienna, to skyscrapers in Hong Kong and Dubai, to intimate, remote escapes in the Maldives and Mexico, the breadth of our portfolio is incomparable and allows us to surpass the expectations of our guests around the globe," said Tina Edmundson, global brand officer, Marriott. "We see luxury as a launch pad for self-actualization, with bucket lists evolving [to showcase] who you can be.

A global luxury study conducted in partnership with Skift, a travel industry website, revealed that the No. 1 priority for luxury travelers is centered on transformative travel and authentic experiences.

Properties set to launch in 2018 span across the entire Marriott International Luxury Brands portfolio and include several new-builds from Ritz-Carlton, St. Regis, W Hotels, EDITION and JW Marriott.