Company signed deals in Mexico in 2018 for 15 hotels with more than 2,300 rooms including the first EDITION contract for the Caribbean and Latin America
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, Marriotts 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 companys 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 Internationals 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 Mexicos tropical Riviera Maya resort destination.
Factoring in the 2018 deals, Marriotts 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.
Strong select service demand
Demand to develop select service properties is also strong in Mexico, today representing more than 4,000 signed rooms across the following six brands: Fairfield by Marriott, AC Hotels by Marriott, Courtyard by Marriott, Residence Inn by Marriott, Aloft and Four Points by Sheraton.
Marriotts owners are benefiting from a growing base of affluent, global loyalty members seeking travel experiences of a lifetime in sought-after destinations, said Stephanie Linnartz, Global Chief Commercial Officer, Marriott International. Our loyalty members benefit in turn from an increasing number of Marriott properties around the globe, as our owners continue to develop exciting projects in gateway cities, resort areas, and locations where our customers aspire to travel.
To date Marriotts hotel owners have seen even greater benefits from growing loyalty program membership, which now tops 125 million members, reduced charge out rates, higher luxury redemptions and a growing proportion of bookings from our direct channels. In the Caribbean and Latin America Marriott International has over 4.1 million Marriott Bonvoy members.