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Marriott's Mexico Investment To Treble Hotels

12 September, 2012

Leading US hotel chain,Marriott International,said yesterday it will treble
the number of hotels it has in Mexico over the next 10 years,according to a
report in the Washington Post.

The hotelier's Mexico investment is in partnership with
Mexico real estate company Pulso
Hotelero
and follows the announcement in October of another investment in Mexico by competitor,Holiday
Inn
for 48 new hotels.

Marriott told the Washington daily that
access to capital can be easier in Mexico than in the United States and that
they were looking to exploit demand there and in other emerging market
economies.

The Mexico investment agreement with Pulso Hotelero will see them open 36
mid-priced Fairfield Inn brand properties beginning in 2011,increasing
threefold the number of Marriott brand hotels in Mexico from 19 to 57.

Spokesperson for Marriott,Catherine Leitner,told the newspaper,"We
found this is the right product for the right market at the right time. Within
Mexico,travelers are looking for something that fits in with this
moderately-priced category."

The new hotels will work under long-term
franchise agreements and the expansion will start with two hotels in Cabo San
Lucas and Guadalajara,with 120 rooms and 139 rooms respectively. Room prices
are expected to be between $77 and $118 per night.

Marriott International
has more than 3,200 lodging properties in 67 countries and territories. The
company is headquartered in Bethesda,Maryland and has approximately 146,000
employees.

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