Marriott International has marked 2023 as a year of significant growth in the Caribbean and Latin America (CALA) with a near doubling of its organic deal signings from the previous year. The company signed 57 new deals, adding nearly 7,300 rooms, bringing its regional pipeline to a robust 24,000 rooms at the year’s end.
In addition, Marriott introduced over 170 properties into its CALA portfolio in 2023, expanding its presence to nearly 500 properties, including hotels and residences across 37 countries and territories. This expansion solidifies Marriott’s status as the largest hotel company in the region, both in terms of open rooms and pipeline.
Marriott’s pipeline at the end of 2023 included 155 properties and 24,000 rooms, set to enhance the company’s luxury segment dominance, introduce affordable midscale offerings, and increase its all-inclusive property count. The introduction of the City Express by Marriott marks a strategic move into the high-growth affordable midscale segment, expanding Marriott’s regional footprint by approximately 45 percent.
The luxury segment in CALA saw significant growth, with Marriott operating 60 properties across six luxury brands, offering everything from beachfront to urban luxury experiences. Notable openings in 2023 include The Riviera Maya EDITION at Kanai and The St. Regis Kanai Resort in Mexico, with several luxury properties slated to open in 2024.
Hotel conversions have gained momentum in CALA, with nearly 35 percent of Marriott’s room signings in 2023 being conversions. This strategy allows hoteliers and investors to tap into the efficiencies and advantages of renovating and rebranding existing properties, further diversifying Marriott’s extensive portfolio of over 30 leading global brands.
Marriott Bonvoy’s Expanding All-Inclusive Resorts
Marriott Bonvoy’s portfolio of all-inclusive resorts is rapidly expanding to meet the growing demand of consumers. Currently, the brand boasts 31 all-inclusive properties across nine markets in the Caribbean and Latin America, including destinations like Mexico’s Riviera Nayarit and Cancun, Jamaica, Barbados, and more, under four distinguished brands: Autograph Collection, Delta, Westin, and Luxury Collection. With an additional 18 properties in the pipeline, Marriott is set to offer an unprecedented range of all-inclusive options. Recent signings include the second Ritz-Carlton All-Inclusive in Yanuna, Dominican Republic, and a Luxury Collection All-Inclusive Resort, enhancing the luxury all-inclusive offerings in the region.
The year 2024 is expected to see the opening of several all-inclusive resorts, including Almare, a Luxury Collection All-inclusive Resort in Isla Mujeres, Mexico, and W Punta Cana, All-Inclusive in the Dominican Republic. Additionally, the rebranding of Elegant Hotels properties in Barbados to the Autograph Collection will expand Marriott’s all-inclusive portfolio to 49 properties across 12 markets and 10 brands, with six expected to open in 2024.
Growth in Branded Residences
The demand for Marriott’s branded residences in the Caribbean and Latin America is on the rise, with 15 open locations across 11 markets. Anticipated openings for 2024 include luxury residences like The St. Regis Kanai Resort in Mexico, Nekajui, a Ritz-Carlton Reserve in Costa Rica, The St. Regis Cap Cana Resort in the Dominican Republic, and the W Residences Sao Paulo in Brazil. Marriott has a global pipeline of 115 residential projects, indicating a robust growth trajectory.
Marriott Bonvoy’s Expanding Membership and Partnerships
Marriott Bonvoy, Marriott’s award-winning travel program, continues to grow with over 6 million members in the Caribbean and Latin America. The program is constantly evolving, offering richer travel experiences through new strategic partnerships and more ways to earn points. In May 2023, Marriott announced a strategic collaboration with Rappi, a leading technology company in Latin America, to enhance member benefits and connect with Rappi’s extensive user base of over 20 million across multiple countries, including Argentina, Brazil, Chile, Colombia, and Mexico, among others.
