Marriott announced today that it will acquire a hotel chain with around 18,000 rooms across Mexico and Latin America.
Here’s what you need to know about the deal.
Marriott Inks $100 Million Deal With City Express
Marriott announced today, October 19, 2022, that it would acquire Hoteles City Express, otherwise known as City Express, a Mexico-based hotel chain founded in 2002 for $100 million.
This acquisition will make City Express Marriott’s 33rd brand and bring the giant hotel chain to more midsize markets. Existing City Express properties will eventually take on the “by Marriott” name, but it’s unclear when that will happen.
The City Express portfolio — made up of brands including City Express, City Express Plus, City Express Suites, City Express Junior, and City Centro — has more than 150 hotels in Mexico and 3 Latin American countries. These include nearly 18,000 rooms in 75 Mexican cities alone. Marriott is also acquiring the rights to 5 properties currently under construction, adding nearly 700 rooms.
According to Marriott, this deal is expected to make Marriott — already the world’s largest hotel chain — the largest hotel company in the Caribbean and Latin America.
City Express has a loyalty program called City Premios Rewards. The program is expected to be transitioned into the Marriott Bonvoy program throughout 2023, which is when its members will have access to Bonvoy.
Marriott CEO Anthony Capuano said the chain sees “significant potential” in affordable midscale hotels.
“With City Express by Marriott, we will be providing our customers with more choice through a new, approachable, moderate-priced offering, increasing opportunity for owners and franchisees as well as associates,” Capuano said in a statement.
“When we started thinking about City Express, we were convinced that a modern, efficient, and affordable brand would be very attractive to the local traveler,” Luis Barrios, Hoteles City CEO, said.
Barrios said his chain was “excited and honored” to work with Marriott to take the brand to “the next level.”
The acquisition means Marriott will have hundreds of new, relatively affordable properties in convenient locations for travelers visiting Latin America.
For instance, the City Centro Ciudad de México hotel is located just 5 minutes from Plaza de la Constitución, one of the most popular attractions in Mexico City.
Bottom Line: After the acquisition, Marriott says it will have nearly 500 additional properties in more than 3 dozen countries in the Caribbean and Latin America.
Marriott has acquired another hotel brand. This is exciting news for Marriott Bonvoy fans, who will soon have more options for earning and redeeming Marriott Bonvoy points in Latin America!
Featured Image Credit:
Hoteles City Express