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Saturday, April 13, 2024

Marriott Offers Updates on Caribbean and Latin American Development

PLANTATION, Florida—Marriott Worldwide introduced a yr of room signings and additions throughout the Caribbean and Latin America (CALA) in 2023. The corporate almost doubled its variety of deal signings within the area versus the prior yr, signing 57 transactions and almost 7,300 rooms in 2023 to succeed in a strong pipeline of 24,000 rooms throughout the area on the finish of final yr.

In 2023, the corporate added over 170 properties to Marriott’s portfolio in CALA, rising its footprint to just about 500 properties, together with motels and residences, and almost 87,000 rooms throughout 37 nations and territories. At year-end, Marriott’s lodge pipeline in CALA stood at 155 properties and 24,000 rooms.

“We’re happy to report an incredible yr of development for Marriott within the CALA area, with sturdy improvement exercise in 2023. With persevering with momentum in conversions, and our ongoing enlargement throughout quite a few segments, together with luxurious and all-inclusive, we stay targeted on offering our friends and homeowners with extra best-in-class choices” mentioned Laurent de Kousemaeker, chief improvement officer for Marriott Worldwide within the Caribbean and Latin America. “We see distinctive alternatives within the area throughout all segments, however significantly in midscale with the brand new Metropolis Specific by Marriott model, opening up contemporary prospects on this phase all through the area.”

Metropolis Specific by Marriott

In 2023, the corporate positioned CALA because the launchpad for the corporate’s entry into the inexpensive midscale phase with the acquisition of the Metropolis Specific model portfolio. With 150 properties and roughly 17,500 rooms throughout Mexico, Costa Rica, Colombia, and Chile, the deal elevated Marriott’s footprint within the area by roughly 45 %. In 2024, the Metropolis Specific by Marriott model is predicted to additional increase with new properties throughout the area.

Luxurious Development within the Area

Opening highlights in 2023 included the debut of The Riviera Maya EDITION at Kanai (Mexico) in November 2023, and The St. Regis Kanai Resort (Mexico) earlier within the yr. Luxurious openings in 2024 embody the JW Marriott Sint Maarten Seaside Resort (Sint Marteen); Almare, a Luxurious Assortment All-inclusive Resort Isla Mujeres (Mexico); Nekajui, a Ritz-Carlton Reserve, Papagayo (Costa Rica); The St. Regis Aruba (Aruba); W Punta Cana, All-Inclusive, The St. Regis Cap Cana Resort (Dominican Republic); and W Sao Paulo (Brazil). The area holds a luxurious pipeline of 34 properties and over 5,000 rooms.

Momentum in Conversions

Lodge conversions proceed to have momentum within the CALA. Practically 35 % of Marriott’s rooms signings within the area in 2023 had been conversions, together with the just lately introduced Villa Lapas, Autograph Assortment (Costa Rica); Aloft Guadalajara Nation Membership, Sheraton Guadalajara Expo and Delta Resorts Puebla (Mexico); and Las Terrenas, Autograph Assortment (Dominican Republic). Hoteliers and buyers are leveraging the efficiencies of renovating and rebranding present properties all through the area.

All-Inclusive by Marriott Bonvoy

With 31 open all-inclusive properties in CALA situated throughout 9 markets (Mexico—Riviera Nayarit and Cancun; Jamaica; Barbados; Antigua and Barbuda; St Lucia; Costa Rica; Dominican Republic; Grenada; and Brazil) and 4 manufacturers (Autograph Assortment, Delta, Westin, and Luxurious Assortment), and 18 extra properties within the signed pipeline, the corporate is offering friends extra all-inclusive choices. The corporate just lately signed the second Ritz-Carlton All-Inclusive property within the area to be situated on the shores of Yanuna, Dominican Republic, together with a Luxurious Assortment All-Inclusive Resort.

Anticipated all-inclusive openings for 2024 within the area embody Almare, a Luxurious Assortment All-inclusive Resort Isla Mujeres (Mexico); W Punta Cana, All-Inclusive (Dominican Republic); and the rebranding of a number of Elegant Resorts properties (Treasure Seaside, The Home, and Waves) into the Autograph Assortment model in Barbados, which is able to carry Marriott’s international all-inclusive roster to 49 open and pipeline properties throughout 12 markets and 10 manufacturers. Six of the pipeline properties are slated to open in 2024.

Branded Residences Portfolio

Marriott presently affords 15 open places in 11 markets throughout the area. Anticipated residential openings in 2024 embody The Residences at The St. Regis Kanai Resort (Mexico); Nekajui, a Ritz-Carlton Reserve Residence, Papagayo (Costa Rica); The Residences at The St. Regis Cap Cana Resort (Dominican Republic); and the W Residences Sao Paulo (Brazil). Globally, the corporate has a pipeline of 115 residential initiatives.

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