Following its recent announcement of strong global net room growth and a record year of global room signings, Marriott International has announced a year of robust room signings and additions across the Caribbean and Latin America (CALA) in 2023. The company nearly doubled its number of organic deal signings in the region versus prior year, signing 57 transactions and nearly 7,300 rooms in 2023 to reach a solid pipeline of 24,000 rooms across the region at the end of last year.
In 2023, the company added over 170 properties to Marriott’s portfolio in CALA, growing its footprint to nearly 500 properties, including hotels and residences, and nearly 87,000 rooms across 37 countries and territories, making Marriott the largest hotel company in the region based on open rooms and pipeline.
At year-end, Marriott’s hotel pipeline in CALA stood at 155 properties and 24,000 rooms, which will further enhance the company’s leadership position in the luxury segment across the region, unveil new offerings in the affordable midscale segment, and increase its offering of all-inclusive properties.
“We are pleased to report a great year of growth for Marriott in the CALA region, with strong development activity in 2023. With continuing momentum in conversions and our ongoing expansion across numerous segments, including luxury and all-inclusive, we remain focused on providing our guests and owners with more best-in-class options,” said Laurent de Kousemaeker, Chief Development Officer for Marriott International in the Caribbean and Latin America.
“We see exceptional opportunities in the region across all segments, but particularly in midscale with the new City Express by Marriott brand, opening up fresh possibilities in this segment throughout the region.”
In 2023, the company strategically positioned CALA as the launchpad for the company’s entry into the high-growth affordable midscale segment with the acquisition of the City Express brand portfolio. With 150 properties and approximately 17,500 rooms across Mexico, Costa Rica, Colombia, and Chile, the deal increased Marriott’s footprint in the region by approximately 45 percent. In 2024, the City Express by Marriott brand is expected to further expand with new properties across the region.
Hotel conversions continue to have momentum in the CALA. Nearly 35 percent of Marriott’s rooms signings in the region in 2023 were conversions, including the recently announced Villa Lapas, Autograph Collection (Costa Rica), Aloft Guadalajara Country Club, Sheraton Guadalajara Expo and Delta Hotels Puebla (Mexico), and Las Terrenas, Autograph Collection (Dominican Republic). Hoteliers and investors are leveraging the efficiencies and advantages of renovating and rebranding existing properties throughout the region, further expanding the breadth of Marriott Bonvoy’s portfolio of more than 30 global leading brands.
