Marriot to triple Mexican portfolio by 2013
Wednesday, July 23, 2008: Marriot International is seeking to expand its hospitality presence in Mexico by signing agreements for an additional 28 to 32 properties in the next five years.
This will almost triple its holdings within Mexico, adding 29 branded hotels to the country, as well as creating 3,000 employment opportunities and investing over $1 billion.
“These agreements reflect a huge investment being made by our partners in the future of Mexican tourism and are in response to the growing attractiveness of Mexico as a tourist destination,” said Ed Fuller, president & managing director of international lodging for Marriott International.
Mexico is just one of the directions that the Marriott is expanding towards, as the new properties are only a fraction of a planned 130,000 new rooms for the Marriot portfolio by 2010.
Over a quarter of these new rooms are expected to be located outside the United States.
“As a destination, Mexico accounts for almost 16 percent of tourism activity in the Americas, second only to the United States,” Fuller explained.
Marriot International already has significant holdings within Mexico, spanning over 16 hotels and resorts.
“Mexico also is the primary destination for foreign tourists within Latin America and today ranks eighth for international tourist arrivals worldwide.”
A multi-unit development agreement has been announced with Caribe Hospitality, which hopes to produce 20 Courtyard by Marriot properties throughout the country in the next five to seven years.
“We are thrilled to be part of these visionary plans that will help Mexico achieve its goal of becoming the fifth most visited destination in the world,” Fuller professed.
Twenty years of successful operations within Mexico have rendered the country a significant investment for the Marriot.
“We have watched Mexican tourism evolve into the vibrant, appealing product it is today and are delighted to see Mexico’s growing middle class spurring national tourism as well,” he continued. “In fact, the domestic Mexican market accounts for nearly 40 percent of all our guests at our hotels within Mexico.”