Marriott International To Expand In Mexico By More Than 50%

Posted On 2016-11-25

Marriott International (NASDAQ: MAR) today announced that it expects to expand its footprint in Mexico by more than 50% to the end of 2023, following a robust year of new signings. In 2018, the company signed 36 deals in the Caribbean and Latin America, including more than 2,300 rooms or close to 40% of total rooms in Mexico. With these new deals, Marriott’s total Mexico pipeline now features nearly 50 properties consisting of 8,000 rooms across the country – from Mexicali to Cancun, including key gateway cities such as Mexico City, Guadalajara and Monterrey and resort markets like Cancun, Los Cabos and Puerto Vallarta.

“Mexico continues to be our biggest and most successful market in the region, thanks to our proven operating excellence, preferred brands and business platforms, and strong owner and franchise partnerships,” said Laurent de Kousemaeker, Chief Development Officer for Marriott International in the Caribbean and Latin America. “We are equally enthusiastic about 2019, given our strong pipeline, the launch of Marriott Bonvoy – the company’s new loyalty program – and the increasingly compelling value proposition that our size and scale can bring to our partners.”

As of Dec. 31, 2018 Marriott had 85 open properties in Mexico, representing about 34% of its 249 properties across 21 brands in the Caribbean and Latin American region. https://news.marriott.com/2019/04/marriott-international-to-expand-in-mexico-by-more-than-50-by-the-end-of-2023/

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