Marriott International Celebrates 300th Property Milestone in the Caribbean and Latin America
Marriott International, Inc. today announced that it has reached a milestone with the opening of its 300th property in the Caribbean and Latin America, marking a significant achievement and showcasing continued growth in the region. With the highly anticipated and recent opening of The Ritz-Carlton Mexico City, the company’s extensive portfolio in the region now encompasses over 63,000 rooms in 36 countries and territories across 21 of its 30 global brands.
“This momentous accomplishment is a reflection of our strong relationships in the Caribbean and Latin America and the trust our owners and franchisees continue to have in Marriott, our extraordinary portfolio of 30 brands and Marriott Bonvoy, our award-winning travel program,” said Federico Greppi, Chief Financial Officer & VP Franchise Operations and Owner Relations of Marriott International’s Caribbean and Latin America region. “Our commitment to the future of the Caribbean and Latin American tourism industry is unwavering, and we continue to pursue our vision of growth in this vibrant part of the world, aiming to provide a wide variety of experiences for all travelers who wish to explore it.”
Marriott International opened its first hotel outside the United States in Acapulco, Mexico in May 1969 and has since grown steadily across the select, premium and luxury brand segments in the Caribbean and Latin America region. Earlier this year, the company announced a significant expansion in the all-inclusive segment. Industrywide, 52% of all-inclusive properties are located in the Caribbean and Latin America. At the end of September 2021, Marriott International’s total development pipeline in the region stood at 112 hotels representing 18,205 rooms.
“The Caribbean and Latin America continues to be a growing region,” said Laurent de Kousemaeker, Chief Development Officer, Caribbean and Latin America, Marriott International. “We are having a robust year of signings as well as openings, and are seeing particular strength in conversions, as owners and franchisees of independent hotels and resorts turn to our trusted brands as they look to strengthen their sales and distribution channels.”
The recently opened The Ritz-Carlton, Mexico City is set in the heart of Mexico City’s financial center and marks the company’s 300th property in the Caribbean and Latin America. Luxuriously appointed modern interiors and breathtaking city views invite guests to discover a new perspective on this enchanting urban destination. Mexico’s rich folklore is brought to life throughout the hotel creating a place to uncover modern Mexican myths. The 58-story property, featuring 153 individually designed guest rooms and suites, also offers a wide range of amenities, designed for cultural discovery, epicurean adventures or business travel, including Samos, a Mediterranean inspired restaurant, The Ritz-Carlton Club® Lounge with exclusive Club Concierge, a signature Ritz-Carlton Spa and more.
Note on Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of United States federal securities laws, including statements related to our development pipeline; our growth plans, prospects and expectations; owner and franchisee interest in our brands; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including those we identify below and other risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K. Risks that could affect forward-looking statements in this press release include the duration and scope of COVID-19, including the availability and distribution of effective vaccines or treatments; the pandemic’s short and longer-term impact on the demand for travel, transient and group business, and levels of consumer confidence; actions governments, businesses and individuals have taken or may take in response to the pandemic, including limiting, banning, or cautioning against travel and/or in-person gatherings or imposing occupancy or other restrictions on lodging or other facilities; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies, travel, and economic activity, including the duration and magnitude of the pandemic’s impact on unemployment rates and consumer discretionary spending; the ability of our owners and franchisees to successfully navigate the impacts of COVID-19; the pace of recovery when the pandemic subsides and any dislocations in recovery as a result of resurgences of the pandemic; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps we and our property owners and franchisees have taken and may continue to take to reduce operating costs and/or enhance certain health and cleanliness protocols at our hotels; the impacts of our employee furloughs and reduced work week schedules, our voluntary transition program and our other restructuring activities; competitive conditions in the lodging industry and in the labor market; relationships with customers and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of roughly 7,900 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
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