©Reuters.
PLANTATION, Fla. – Marriott International (NASDAQ:) reported a year of significant growth in the Caribbean and Latin America (CALA) for 2023, with nearly double the number of organic deal signings compared to the prior year.
The hotel giant announced Monday that it has signed 57 transactions, adding nearly 7,300 rooms in 2023, contributing to a robust pipeline of 24,000 rooms across the region.
Last year, Marriott added more than 170 properties to its CALA portfolio, which now includes nearly 500 properties, including hotels and serviced apartments, in 37 countries and territories. This expansion solidified Marriott’s status as the region’s largest hotel company in terms of open rooms and pipeline.
The pipeline at the end of 2023 stood at 155 properties, promising to strengthen Marriott’s leadership in the luxury segment and introduce new offerings in the affordable mid-range segment and all-inclusive properties.
Laurent de Kousemaeker, Chief Development Officer of Marriott International at CALA, highlighted growth in conversions and expansion across various segments, including the introduction of the City Express by Marriott brand.
This acquisition added 150 properties and approximately 17,500 rooms in Mexico, Costa Rica, Colombia and Chile, increasing Marriott’s regional footprint by approximately 45%.
The luxury segment in CALA has also seen growth, with notable openings such as The Riviera Maya EDITION in Kanai and The St. Regis (NASDAQ:) Kanai Resort in Mexico. The region’s luxury pipeline includes 34 properties with more than 5,000 rooms, with several expected to open in 2024.
Marriott’s all-inclusive resorts continue to meet consumer demand, with 31 properties open across nine markets and four brands, and 18 additional properties in the pipeline. The all-inclusive segment is set to grow further with upcoming openings and rebranding in 2024.
The branded residences portfolio is also seeing increased demand, with 15 locations opening in 11 markets across CALA. Several residential openings are expected in 2024, contributing to a global pipeline of 115 residential projects.
Marriott Bonvoy, the company’s travel program, has more than 6 million members in CALA and is expanding through strategic partnerships, such as one with Rappi, to enhance member experiences and reach Rappi’s 20 million users in more countries of Latin America.
This announcement is based on a press release.
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