Marriott International Celebrates Expansive Growth in Caribbean and Latin America in 2023

Marriott International announces a significant increase in room signings and property additions across the Caribbean and Latin America in 2023, nearly doubling its deal signings and expanding its luxury, midscale, and all-inclusive offerings.

 

In a landmark year for growth, Marriott International has unveiled its impressive expansion achievements across the Caribbean and Latin America (CALA) for 2023. The hospitality giant reported a near doubling in the number of organic deal signings from the previous year, with 57 new transactions and close to 7,300 rooms added, culminating in a robust pipeline of 24,000 rooms by year-end.

Throughout 2023, Marriott has notably enhanced its CALA presence by adding over 170 properties to its portfolio, now boasting nearly 500 hotels and residences and approximately 87,000 rooms across 37 countries and territories. This expansion underscores Marriott's dominance as the region's largest hotel company by both open rooms and pipeline.

The year saw Marriott not only solidify but also extend its leadership in the luxury segment while introducing new ventures in the affordable midscale segment through the strategic acquisition of the City Express brand. This move significantly bolstered Marriott’s regional presence with an additional 150 properties. Additionally, the company's luxury segment flourished with notable openings and a pipeline of 34 properties, promising over 5,000 rooms.

Conversions played a key role in Marriott's growth strategy in CALA, with nearly 35% of the region's room signings in 2023 stemming from this avenue. This includes several properties across Mexico, Costa Rica, and the Dominican Republic, highlighting the brand's agility in enhancing its portfolio through strategic property transformations.

The all-inclusive segment under Marriott Bonvoy continues to resonate strongly with consumers, with 31 open properties across nine markets and an 18-property pipeline, indicating sustained interest and growth potential. Upcoming openings include several high-profile resorts in Mexico and the Dominican Republic, further diversifying Marriott’s all-inclusive offerings.

The demand for branded residences also saw a significant uptick, with anticipated openings in Mexico, Costa Rica, the Dominican Republic, and Brazil, pointing towards a growing consumer preference for luxury living combined with trusted hotel services.

Marriott Bonvoy, the company’s award-winning travel program, continues to thrive with over 6 million members in CALA, bolstered by strategic collaborations like the one with Rappi, enhancing member benefits and connecting with a broader audience.

This comprehensive expansion across different segments and markets reflects Marriott International's strategic vision and commitment to growth in the Caribbean and Latin America, promising an enriched and diverse portfolio for guests and significant development opportunities within the region.