Marriott enters the luxury hotel business with the purchase of City Express: Real Estate

At MexHIC 2023, Alonso BurgosCALA Vice President of Development Marriott InternationalAnd I mentioned that their purchase of the City Express brand is a sign of their confidence in the business.

There is something curious and we realized We can take a business trip and also share a vacation or a distraction tripDirect pointed out.

It is important to remember that this past October, The hotel chain has announced that it will purchase the City Express portfolio, That is, 150 hotels, equivalent to 17 thousand rooms.

according to Alonso Burgos, although there are between three and four hotels in Costa Rica, Colombia and Chile, 99% of the portfolio is focused on Mexico.

with said acquisitionWe will be able to enter this sector within the framework of the franchise system, it will be important for us to have operators that they can offer us their support to run this type of hotel; For us, this is a clear sign that the business will continue.”

99% of City Express’s portfolio is in Mexico. Photo: City Express

This is how Marriott buys with City Express

At the beginning of March 2023, The Federal Commission for Economic Competition (Cofece) granted permission to carry out the sale of the five City Express brands: City Centro, City Express Suites, City Express Plus, City Express, and City Express Junior, as well as its City Premios Rewards loyalty program for Marriott International, Inc.

According to a said statement from the brand, The transaction is expected to be executed at the beginning of May this year.

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We are still in the process, by the second quarter of the year we have to close it, and it is very important for us to get into the part that we lost.” Burgos.

With said purchase, Marriott will continue to operate the more than 150 hotels it currently has in its portfolio and continue to grow it through investment programs.Hotel development and new management contracts.

We will double our footprint in Mexico“, mentioned Alonso Burgos during an HVS event.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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