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.