U.S. hotel chain Marriott International has announced plans to open 20 new hotels in Mexico by 2016 in partnership with Mexican real estate investment trust (REIT) Fibra Hotel. This will nearly double the hotel chain’s presence in Mexico,and the first six properties will add more than 800 rooms and 400 jobs to the Mexican market.
“With a portfolio of 23 hotels across five Marriott brands,Mexico is one of the largest,most important and dynamic international markets for our company,” stated Craig Smith,president of Marriott’s Caribbean and Latin American markets. “In the past five years we have seen a strong emerging Mexican middle class eager to travel.”
Fibra Hotel already owns more than 49 hotels in 22 states and plans to open at least 100 properties over the next few years. The REIT’s strategy,which has evolved out of more than 20 years experience in Mexico as real estate developers and hotel operators,involves working with leading international brands that have a proven track record in distribution,processes and operations to ensure sustainable returns for investors.
“Our companies have a common vision and market goals for Mexico,and we look forward to working together to bring the world-class service and trusted amenities of our globally renowned Marriott brand to travelers throughout the country,” stated Smith in a press release. “Economists predict that by 2020,Mexico’s economy will be among the ten largest in the world,truly reinforcing the fact that we are living in the Mexican Moment.”
Currently,Marriott operates properties in Cancun,Mexico City,Puerto Vallarta,Tijuana,Aguascalientes,Monterrey,Toluca,San Luis Potosi,Puebla,Cabo San Lucas and Queretaro,among others. To manage its growing presence in Mexico,the hotel chain opened a new development office in Mexico City,demonstrating a strong commitment to continue growing throughout the country.
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