Marriott International announced four signed agreements that it expects will nearly triple its lodging presence in Mexico over the next five years.
The agreements involve plans to add 29 branded Marriott hotels in Mexico, create an estimated 3,000 new jobs and represent a total investment of more than $1 billion by the owners of the Marriott properties.
"These agreements reflect a huge investment being made by our partners in the future of Mexican tourism and are in response to the growing attractiveness of Mexico as a tourist destination," said Ed Fuller, president & managing director of international lodging for Marriott International.
Fueling Marriott's global growth, the Mexico announcement is part of its pipeline of 130,000 new rooms that the company expects to be added to its system by 2010. Marriott anticipates that more than a quarter of its new rooms will be located outside the U.S.
Currently, Marriott's portfolio in Mexico consists of 16 hotels and resorts, including the JW Marriott, Marriott, Courtyard, Residence Inn, and Fairfield Inn brands.
The agreements include a management agreement with Desarrollos Turisticos Paso Victoria S.A. for the 450-room JW Marriott Milla de Oro Resort & Spa and the 150-room Renaissance Milla de Oro Resort, both of which will be located on Mexico's popular Riviera Maya and are expected to open in 2011.
There is also a development agreement with Grupo Diestra for at least five and up to 10 franchised hotels over the next five years under the full-service, upscale Marriott brand. Grupo Diestra currently operates the Tijuana Marriott Hotel, which opened in 2007. The company expects to open the 320-room Mexico City Marriott Reforma Hotel later this year, and the 286-room Aguascalientes Marriott Hotel and 290-room Merida Marriott Hotel in 2009 and 2010, respectively.
