The completion of this transaction now makes Marriott International the largest hotel company in the Caribbean and Latin America, bringing its presence in the region to over 480 properties.
A significant acquisition
As Marriott announced the acquisition of the City Express brand portfolio from Hoteles City Express, the group marked its entry to the affordable midscale segment and the launch of its 31st brand, City Express by Marriott.
Leeny Oberg, Chief Financial Officer and Executive Vice President, Development, Marriott International, commented: “We are thrilled to expand our portfolio into the fast-growing affordable midscale segment.”
“Our goal is to be everywhere our guests want us to be, with the right property in the right location at the right price point. The City Express brand acquisition is an important first step as we enter this attractive segment, allowing us to provide a wider range of choices to our guests, as well as more growth opportunities for our owners and franchisees.”
Brian King, President, Caribbean and Latin America (CALA), Marriott International, said: “With this brand acquisition, we have significantly grown our presence in the Caribbean and Latin America, particularly in secondary and tertiary markets, making us the largest hotel company in the region. We see meaningful opportunity to further expand the City Express brand in the CALA region as well as in other locations.”
Benefitting the brand and guests
Marriott has a proven track record in growing regional brands. The hotel company affords significant growth through its global development engine and revenue systems that help brands expand into new markets. Direct bookings in particular are driven through the Marriott Bonvoy loyalty platform and digital travel services.
City Express currently has around 150 hotels in its portfolio, with five sub-brands – City Express, City Express Plus, City Express Suites, City Express Junior, and City Centro – and properties across Mexico, Costa Rica, Colombia and Chile. This collection of hotels is now a part of the hotel company’s franchise system. The brand’s City Premios loyalty program is expected to be integrated into the Marriott Bonvoy platform.
“The opportunity this transaction represents for our customers and City Premios and Marriott Bonvoy members is significant,” said Diana Plazas, Chief Sales and Marketing Officer, CALA, Marriott International.
“But what is equally exciting is the opportunity to introduce new customers to our broader portfolio of brands through City Express offerings. We look forward to welcoming new guests to the entire Marriott Bonvoy portfolio.”