Marriott International expects to expand its footprint in Mexico more than 50 percent by the end of 2023 following a solid year of new deals.
In 2018, the company signed deals to open 36 hotels with more than 2,300 rooms in the Caribbean and Latin America. Close to 40 percent of this total is for development in Mexico.With these new deals, Marriott’s total Mexico pipeline now has nearly 50 properties with 8,000 rooms across the country, 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,” Laurent de Kousemaeker, chief development officer for Marriott International in the Caribbean and Latin America, said in a statement.
As of Dec. 31, 2018, Marriott had 85 open properties in Mexico, representing about 34 percent of its 249 properties across 21 brands in the Caribbean and Latin American region.
Luxury and Select-Service
The company signed two projects in 2018 to boost its luxury profile in Mexico: the 110-guestroom Ritz-Carlton Reserve in Riviera Nayarit (which includes branded residences) and the Riviera Maya Mexico Edition, the brand's debut for the region.
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 plans to open its first ultra-luxury Ritz-Carlton Reserve brand property, Zadun, in Los Cabos as part of the Puerto Los Cabos master plan development.
Demand to develop select-service properties also is strong in Mexico, representing more than 4,000 signed rooms across the following brands: Fairfield, AC Hotels, Courtyard, Residence Inn, Aloft and Four Points.