Marriott International expanded its Caribbean and Latin American portfolio in 2023, adding 170 additional properties. With nearly 500 properties, it is now the largest hotel company in the region.
“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.
Regional Expansion
The company’s number of organic deal signings throughout the region nearly doubled compared to the previous year. Marriott completed 57 transactions in 2023, adding 7,300 additional rooms. Marriott now maintains 24,000 rooms across the region.
Marriott’s expansion in the Caribbean and Latin America region comes amid a record year for the brand globally. It reported a 52% increase in 2023 compared to 2022 and achieved net room growth of 4.7% last year.
Numerous regional hoteliers and investors have opted to rebrand under the Marriott brand. Around 35% of Marriott’s room signings in 2023 consisted of conversions. These conversions include Villa Lapas, Autograph Collection in Costa Rica, Aloft Guadalajara Country Club, Sheraton Guadalajara Expo and Delta Hotels Puebla in Mexico and Las Terrenas, Autograph Collection located in the Dominican Republic.
The brand’s loyalty program, Marriott Bonvoy, also reported regional expansion growing to roughly 6 million members. The expansion of the Marriott Bonvoy program also features new strategic partnerships, including collaborating with Mexican technology company Rappi. Rappi is a delivery-focused super app with 20 million users throughout the region.
Mid-scale, All-inclusive and Luxury Expansion
Marriott emerged in the affordable, mid-scale segment in 2023 with the acquisition of the City Express brand portfolio. This increased its presence in the region by roughly 45%. City Express has 150 properties in Mexico, Costa Rica, Colombia, and Chile, with a total of 17,500 rooms. City Express by Marriott announced plans to further expand in the region.
Marriott’s all-inclusive resort portfolio in the Caribbean and Latin America region has expanded to meet the rising demand from consumers. All-inclusive offerings include 31 properties under four brands located across nine markets, including Mexico, Jamaica, Barbados, and the Dominican Republic. It also has an additional 18 all-inclusive properties currently in the pipeline. The company has recently completed deals for a Ritz-Carlton All-Inclusive property and a Luxury Collection All-Inclusive Resort to be located in the Dominican Republic.
Marriott anticipates additional openings in 2024, including the Almare, a Luxury Collection all-inclusive resort in Isla Mujeres, Mexico, and the rebranding of Elegant Hotels properties in Barbados into the Autograph Collection. The additional properties will bring Marriott’s global all-inclusive roster to 49 properties across 12 markets and 10 brands. The company plans to open six additional all-inclusive properties in 2024.
Marriott remains a dominant player in luxury travel, with 60 properties across six luxury brands in the region. Notable openings include The Riviera Maya EDITION and The St. Regis Kanai Resort in Mexico. Anticipated luxury openings in 2024 span destinations like Sint Maarten, Aruba, and Brazil, augmenting Marriott’s luxury portfolio, which now stands at 34 properties with over 5,000 rooms in the region.
Branded Residences
The surge in demand for branded residences in the Caribbean and Latin America has not gone unnoticed by the company, which currently offers 15 locations across 11 markets. Anticipated openings in 2024 include The Residences at The St. Regis Kanai Resort in Mexico, Nekajui, a Ritz-Carlton Reserve Residence in Papagayo, Costa Rica, The Residences at The St. Regis Cap Cana Resort in the Dominican Republic and the W Residences in Sao Paulo, Brazil. Marriott’s portfolio now includes 115 residential projects.
