The region continued meaningful expansion
across all segments from midscale to all-inclusive, and residential
to luxury; conversions remained a main driver of growth.
PLANTATION, Fla., Feb. 26,
2024 /PRNewswire/ -- Following its recent
announcement of strong global net rooms growth and a record
year of global rooms signings, Marriott International today
announced a year of robust room signings and additions across the
Caribbean and Latin America (CALA) in 2023. The company
nearly doubled its number of organic deal signings in the region
versus prior year, signing 57 transactions and nearly 7,300 rooms
in 2023 to reach a solid pipeline of 24,000 rooms across the region
at the end of last year.
In 2023, the company added over 170 properties to Marriott's
portfolio in CALA, growing its footprint to nearly 500
properties, including hotels and residences, and nearly 87,000
rooms across 37 countries and territories, making Marriott the
largest hotel company in the region based on open rooms and
pipeline.
At year-end, Marriott's hotel pipeline in CALA stood at 155
properties and 24,000 rooms, which will further enhance the
company's leadership position in the luxury segment across the
region, unveil new offerings in the affordable midscale segment,
and increase its offering of all-inclusive properties.
"We are pleased to report a great year of growth for Marriott in
the CALA region, with strong development activity in 2023. With
continuing momentum in conversions, and our ongoing expansion
across numerous segments, including luxury and all-inclusive, we
remain focused on providing our guests and owners with more
best-in-class options" said Laurent de Kousemaeker, Chief
Development Officer for Marriott International in the Caribbean and Latin
America. "We see exceptional opportunities in the region
across all segments, but particularly in midscale with the new City
Express by Marriott brand, opening up fresh possibilities in this
segment throughout the region."
City Express by Marriott
In 2023, the company strategically positioned CALA as the
launchpad for the company's entry into the high-growth affordable
midscale segment with the acquisition of the City Express brand
portfolio. With 150 properties and approximately 17,500 rooms
across Mexico, Costa Rica, Colombia, and Chile, the deal increased Marriott's footprint
in the region by approximately 45 percent. In 2024, the City
Express by Marriott brand is expected to further expand with new
properties across the region.
Luxury Growth in the Region
With 60 properties across six of the seven global luxury brands
of the company, Marriott remains a leading option for luxury
travelers in the region, offering a broad portfolio of options from
pristine beaches to city escapes. Opening highlights in 2023
included the debut of The Riviera Maya EDITION at Kanai
(Mexico) in November 2023, and The St. Regis Kanai
Resort (Mexico) earlier in the
year. Anticipated luxury openings in 2024 include the JW
Marriott Sint Maarten Beach Resort (Sint Marteen), Almare, a Luxury Collection
All-inclusive Resort Isla Mujeres (Mexico), Nekajui, a Ritz-Carlton Reserve,
Papagayo (Costa Rica), The
St. Regis Aruba (Aruba),
W Punta Cana,
All-Inclusive, The St. Regis Cap Cana Resort
(Dominican Republic), and
W Sao Paulo (Brazil). The region holds a luxury pipeline of
34 properties and over 5,000 rooms.
Accelerating Momentum in Conversions
Hotel conversions continue to have momentum in the CALA.
Nearly 35 percent of Marriott's rooms signings in the
region in 2023 were conversions, including the recently announced
Villa Lapas, Autograph Collection (Costa Rica), Aloft Guadalajara Country
Club, Sheraton Guadalajara Expo and Delta Hotels
Puebla (Mexico), and
Las Terrenas, Autograph Collection (Dominican Republic). Hoteliers and investors
are leveraging the efficiencies and advantages of renovating and
rebranding existing properties throughout the region, further
expanding the breadth of Marriott Bonvoy's portfolio of more
than 30 global leading brands.
All-Inclusive by Marriott Bonvoy
Marriott's all-inclusive resort portfolio in the region
continues to meet consumer demand. With 31 open all-inclusive
properties in CALA located across nine markets (Mexico - Riviera Nayarit & Cancun, Jamaica, Barbados, Antigua
& Barbuda, St Lucia,
Costa Rica, Dominican Republic, Grenada and Brazil) and four brands (Autograph Collection,
Delta, Westin, and Luxury Collection), and 18 additional properties
in the signed pipeline, the company is providing guests more
all-inclusive offerings than ever before. The company recently
signed the second Ritz-Carlton All-Inclusive property
in the region to be located on the shores of Yanuna, Dominican Republic, along with a Luxury
Collection All-Inclusive Resort to bring unparalleled luxury to
the Dominican Republic.
Expected all-inclusive openings for 2024 in the region include
Almare, a Luxury Collection All-inclusive Resort Isla
Mujeres (Mexico),
W Punta Cana, All-Inclusive
(Dominican Republic), and the
rebranding of several Elegant Hotels properties (Treasure Beach, The House, and Waves)
into the Autograph Collection brand in Barbados, which will bring Marriott's global
all-inclusive roster to 49 open and pipeline properties
across 12 markets and 10 brands. Six of the pipeline
properties are slated to open in 2024.
Branded Residences Portfolio
The popularity of branded residences in CALA is experiencing a
surge of customer demand. Marriott currently offers 15 open
locations in 11 markets across the region. Anticipated residential
openings in 2024 include The Residences at The St. Regis Kanai
Resort (Mexico), Nekajui, a
Ritz-Carlton Reserve Residence, Papagayo (Costa Rica), The Residences at The St.
Regis Cap Cana Resort (Dominican
Republic), and the W Residences Sao Paulo
(Brazil). Globally, the company
has a pipeline of 115 residential projects.
Marriott Bonvoy
Marriott Bonvoy, the company's award-winning travel program,
boasts a thriving community of over 6 million members in CALA and
keeps growing to offer an even more enriching travel experience for
its members, with new strategic partnerships, and increased ways to
earn and accumulate points across the region. Announced in
May 2023, the company entered a
strategic collaboration with Rappi, the multilatina technology
company, further enhancing the unparalleled advantages for its
members and enabling the company to connect with Rappi's more than
20 million users across Argentina,
Brazil, Chile, Colombia, Costa
Rica, Ecuador, Mexico, Peru,
and Uruguay.
As Marriott continues to expand its footprint and offerings in
CALA, the region is uniquely positioned to capitalize on the
breadth and depth of its portfolio, with an array of growth and
development opportunities.
Note on Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of United States
federal securities laws, including statements related to deal
signings, expected future project openings and portfolio growth;
our development pipeline; the pace and momentum of development
activity; future growth opportunities; demand trends and
expectations; and similar statements concerning anticipated future
events and expectations that are not historical facts. We caution
you that these statements are not guarantees of future performance
and are subject to numerous evolving risks and uncertainties that
we may not be able to accurately predict or assess, including the
risk factors that we identify in our U.S. Securities and Exchange
Commission filings, including our most recent Annual Report on Form
10-K or Quarterly Report on Form 10-Q. Any of these factors could
cause actual results to differ materially from the expectations we
express or imply in this press release. We make these
forward-looking statements as of the date of this press release and
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based
in Bethesda, Maryland, USA, and
encompasses a portfolio of nearly 8,800 properties across more than
30 leading brands in 139 countries and territories. Marriott
operates and franchises hotels and licenses vacation ownership
resorts all around the world. The company offers Marriott Bonvoy®,
its highly awarded travel program. For more information, please
visit our website at www.marriott.com, and for the latest
company news, visit www.marriottnewscenter.com. In addition,
connect with us on Facebook and @MarriottIntl
on X and Instagram.
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SOURCE Marriott International, Inc.