Marriott International’s remarkable expansion in the Caribbean and Latin America in 2023

Monday, February 26, 2024

Marriott International has announced significant growth in the Caribbean and Latin America (CALA) region for 2023, following its recent global success. The company achieved nearly double the number of organic deal signings compared to the previous year, securing 57 transactions and nearly 7,300 rooms. This substantial increase brings Marriott’s pipeline in the region to a solid 24,000 rooms by the end of last year.

Throughout 2023, Marriott expanded its presence in CALA by adding over 170 properties to its portfolio, totaling close to 500 properties including hotels and residences, with nearly 87,000 rooms spread across 37 countries and territories. This growth cements Marriott’s position as the largest hotel company in the region, both in terms of open rooms and pipeline developments.

By the close of the year, Marriott’s hotel pipeline in CALA comprised 155 properties and 24,000 rooms. This expansion is set to reinforce the company’s leadership in the luxury segment, introduce new offerings in the affordable midscale category, and expand its portfolio 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.”

Marriott’s Strategic Moves in CALA

In 2023, Marriott strategically positioned itself in the high-growth affordable midscale segment by acquiring the City Express brand portfolio, marking its entry into this promising market. This acquisition added 150 properties and approximately 17,500 rooms across Mexico, Costa Rica, Colombia, and Chile, expanding Marriott’s presence in the region by approximately 45%. The City Express by Marriott brand is set for further expansion in 2024 with new properties across CALA.

Luxury Expansion in CALA

Marriott maintains its status as a top choice for luxury travelers in CALA with 60 properties across six of its seven global luxury brands. Notable openings in 2023 included The Riviera Maya EDITION at Kanai (Mexico) and The St. Regis Kanai Resort (Mexico). Anticipated luxury openings in 2024 span various destinations, enhancing Marriott’s luxury offerings in the region.

Conversion Momentum

Hotel conversions are gaining momentum in CALA, constituting nearly 35% of Marriott’s room signings in 2023. Notable conversions include 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). This trend reflects hoteliers’ and investors’ recognition of the benefits of renovating and rebranding existing properties.

Expanding All-Inclusive Offerings

Marriott’s all-inclusive resort portfolio in CALA continues to meet consumer demand, with 31 open properties across nine markets and four brands, along with 18 properties in the pipeline. New additions in 2024 include Almare, a Luxury Collection All-inclusive Resort Isla Mujeres (Mexico), and W Punta Cana, All-Inclusive (Dominican Republic), among others, further enriching Marriott’s all-inclusive offerings.

Branded Residences Surge

The demand for branded residences in CALA is on the rise, with Marriott currently offering 15 open locations across the region. Anticipated openings in 2024 include residential properties associated with The St. Regis and Ritz-Carlton brands, catering to the growing interest in luxury residential options.

Marriott Bonvoy’s Growth

Marriott Bonvoy, the company’s travel program, boasts over 6 million members in CALA and continues to expand. Strategic partnerships, such as the collaboration with Rappi, enable Marriott to enhance member benefits and connect with a broader audience across multiple countries in the region.

Looking Ahead

As Marriott continues to expand its footprint and offerings in CALA, it remains positioned to seize growth opportunities and capitalize on its diverse portfolio. However, it’s essential to note that forward-looking statements involve inherent risks and uncertainties, and actual results may differ from projections due to various factors outlined in regulatory filings. Nonetheless, Marriott remains committed to delivering exceptional experiences and driving growth in the region.

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