Marriott International has announced plans to significantly increase its presence in the Caribbean and Latin America, with a particular emphasis on luxury and all-inclusive properties. The company aims to double its portfolio in these segments across the region over the coming years.
Growth Strategy in the Region
According to Marriott, the company currently operates more than 300 hotels in 36 countries and territories throughout the Caribbean and Latin America. The hotel group has outlined its intention to add approximately 100 new properties in the region, with a focus on luxury and all-inclusive offerings. This expansion is expected to take place over the next three years.
Luxury and All-Inclusive Developments
Marriott’s strategy includes the introduction of new luxury hotels under brands such as Ritz-Carlton, St. Regis, and W Hotels. In addition, the company plans to grow its all-inclusive portfolio, which currently includes 31 resorts in the region. Marriott has stated that it expects to open 19 additional all-inclusive resorts by 2025.
Executive Statements
Brian King, President of Marriott International for the Caribbean and Latin America, commented, “The Caribbean and Latin America region continues to present significant growth opportunities for Marriott International, particularly in the luxury and all-inclusive segments.” King also noted that consumer demand for premium travel experiences remains strong in these markets.
Recent Openings and Future Projects
Recent additions to Marriott’s regional portfolio include the opening of the St. Regis Kanai Resort in Riviera Maya, Mexico, and the Westin Porto de Galinhas in Brazil. The company has also announced plans for new properties in destinations such as the Dominican Republic, Jamaica, and Costa Rica.
Market Trends and Demand
Marriott’s expansion plans come as the Caribbean and Latin America experience a recovery in travel demand following the pandemic. The company cited increased interest in leisure travel and premium accommodations as key drivers behind its strategy.
For More Information
Further details about Marriott’s growth plans in the Caribbean and Latin America can be found at this link.
