Company signed deals in Mexico in 2018 for 15 hotels with more than 2,300 rooms– including the first EDITION contract for the Caribbean and Latin America
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.
Milestone luxury signings
The company signed two projects in 2018 that will further enhance Marriott International’s luxury offerings in Mexico – notably, a Ritz-Carlton Reserve in Riviera Nayarit. This unique 110-room resort will be nestled within the Costa Canuva master plan development . Set apart by its secluded location, private beach, cliffs with capitvating views and unparalleled nature setting, guests will enjoy an experience that goes beyond conventional luxury and provides personalized service with human warmth, offering intimate and extraordinary attention. Ritz-Carlton branded residential units will also be available for sale at the property.
The second luxury signing is the Riviera Maya Mexico EDITION – the first Edition brand property in the region - set to rise in Kanai in Mexico’s tropical Riviera Maya resort destination.
Factoring in the 2018 deals, Marriott’s signed pipeline in Mexico now consists of nine luxury projects totaling 1,000 rooms. In 2019, the company is expected open its first ultra-luxury Ritz-Carlton Reserve band property called Zadun in Los Cabos as part of the Puerto Los Cabos master plan development.
Strong select service demand
Demand to develop select service properties is also strong in Mexico, today representing more than 4,000 signed rooms across the following six brands: Fairfield by Marriott, AC Hotels by Marriott, Courtyard by Marriott, Residence Inn by Marriott, Aloft and Four Points by Sheraton.
“Marriott’s owners are benefiting from a growing base of affluent, global loyalty members seeking travel experiences of a lifetime in sought-after destinations,” said Stephanie Linnartz, Global Chief Commercial Officer, Marriott International. “Our loyalty members benefit in turn from an increasing number of Marriott properties around the globe, as our owners continue to develop exciting projects in gateway cities, resort areas, and locations where our customers aspire to travel.”
To date Marriott’s hotel owners have seen even greater benefits from growing loyalty program membership, which now tops 125 million members, reduced charge out rates, higher luxury redemptions and a growing proportion of bookings from our direct channels. In the Caribbean and Latin America Marriott International has over 4.1 million Marriott Bonvoy members.
Note on forward looking statements: This news release contains “forward-looking statements” within the meaning of federal securities laws, including the number of properties the company may add in future years, potential increases in the size, strength or benefits of the company’s loyalty program and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; consumer sentiment; the availability of capital to finance growth and refurbishment; and other risk factors that we identify in 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 here. We make these statements as of the date of this press release, and we assume 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 more than 7,000 properties in 30 leading hotel brands spanning 130 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company now offers one travel program, Marriott Bonvoy TM , replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). 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 Twitter and Instagram.