North American hotel group Marriott has received regulatory approval to acquire 152 hotels in Latin America. This acquisition will make Marriott the largest hotel operator in the Caribbean and Latin America, increasing its presence in the region by 45%, with 486 properties in 37 countries.
Marriott International has had the agreement of the Mexican Federal Commission for Economic Competition (COFECE) to buy the five Hoteles City Express brands for 100 million US dollars (93.8 million euros).
Following the transaction, Marriott will take over the five Hoteles City Express brands (City Express, City Express Plus, City Express Suites, City Express Junior and City Centro), which have a portfolio of approximately 150 hotels with a total of approximately 17 hotels.
The company said in a statement that it expects the transaction, originally announced in October 2022, to close in the second quarter of this year, subject to the satisfaction of other customary closing conditions.