The FINANCIAL — Marriott International announced plans to operate 20 hotels expected to be developed by FibraHotel, the largest and first publicly traded Mexican lodging REIT, across key Mexican cities by 2016, according to Marriott International, Inc.
The first six hotels, whose development contracts were signed this week, will add approximately 800 rooms to the Mexican market and create well over 400 jobs for Mexican nationals.
“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,” said Craig S. Smith, President of the Caribbean and Latin America at Marriott. “In the past five years we have seen a strong emerging Mexican middle class eager to travel. 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 the Mexican Moment,” he added.
FibraHotel is one of the largest hotel owners in Mexico, with a portfolio of 49 business hotels representing more than 6,500 rooms in 22 states, and with plans to develop 100 hotels in the next few years, according to Marriott International, Inc.
“We are fortunate to partner with FibraHotel, with more than 20 years of experience in Mexico as real estate developers and hotel owners, particularly in the business hotel segment,” said Alejandro Acevedo, Vice President of Development for Mexico and the Caribbean for Marriott. “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 brands to travelers throughout the country,” he added.
“The affiliation with Marriott fits our strategy perfectly: to develop hotels locally through alliances with leading international brands and operators. Marriott’s global know-how in distribution, processes and operations, combined with our local design and operations experience will ensure sustainable returns on these hotels. We are very excited about Marriott’s commitment to grow in Mexico and the region, and we look forward to a long and prosperous relationship,” said Simon Galante, FibraHotel CEO.
Marriott’s strong focus on hotel development in Mexico prompted the company to open a development office in Mexico City, spearheaded by Alonso Burgos, Director of Development for Mexico.
The pipeline of properties for Mexico includes the 124-room Los Cabos, a Ritz-Carlton Reserve; the 300-room JW Marriott Cabo San Lucas Resort; the 130-room Courtyard by Marriott Hermosillo; the 130-room Courtyard by Marriott Los Cabos; the 120-room Fairfield Inn Queretaro; the 140-room Courtyard by Marriott Queretaro; and the 160-room AC Hotel Mexico City.
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