Marriott International plans to double the number of hotels under its brands in the Caribbean and Latin America region within the next five years.
Arne Sorenson, the new CEO of Marriott International, announced the company’s five-year growth plan for the region on April 13 at the Americas CEO Summit in Cartagena, Colombia. Sorenson added that the number of jobs at Marriott hotels in the region is expected to increase from 13,000 to 27,000 by the end of 2017.
Marriott also announced it expected to double its presence in Colombia with the additions of Marriott hotels in both Cartagena and Cali.
According to the company, this year’s Marriott-marketed hotel openings in the region showcase Marriott’s broad portfolio of brands. They include the first Ritz-Carlton Reserve in the Americas, at Dorado Beach in Puerto Rico; the JW Marriott in Cusco, Peru; and the Courtyard by Marriott at Mexico City Airport.
Currently, Marriott has 35 hotels signed and under development in the Caribbean and Latin America. These include The Ritz-Carlton, Aruba; The Ritz-Carlton, Panama City; the JW Marriott Cusco; the Port-au-Prince Marriott Hotel in Haiti; and the Renaissance Santiago in Chile.
By 2017, Marriott envisions its portfolio in the region rising to more than 140 hotels and 30,000 rooms, either opened or in the development pipeline.
Today, Marriott International is represented with 69 hotels in 25 countries in the Caribbean and Latin America.
Nine of Marriott’s 18 brands are currently represented in the region: The Ritz-Carlton and JW Marriott in the luxury segment; Marriott Hotels & Resorts (upscale); Renaissance Hotels and Autograph Collection (lifestyle); Courtyard by Marriott (upper moderate); Marriott Executive Apartments and Residence Inn by Marriott (extended stay); and Fairfield by Marriott (moderate).
“Latin America is booming, in terms of economic growth and political and institutional stability, which is creating a promising business climate,” said Sorenson, president and CEO of Marriott International. “The rising middle class throughout the region is eager to travel to new places and do business on the road.”
“This is an exciting time for hotel development in Latin America,” said Laurent De Kousemaeker, chief development officer, Caribbean and Latin American Region, for Marriott International. “The growing regional demand and broadening market, combined with the lack of consistent domestic hotel product and service, represents a large opportunity to develop upscale-branded hotels as well as multi-unit, moderate-tier development platforms with local partners in the region.”