Marriott International, Inc. acquired Express brand portfolio of Hoteles City Express from Hoteles City Express, S.A.B. de C.V. (BMV:HCITY *).
May 30, 2023
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Marriott International, Inc. (NasdaqGS:MAR) agreed to acquire Express brand portfolio of Hoteles City Express from Hoteles City Express, S.A.B. de C.V. (BMV:HCITY *) for $100 million on October 19, 2022. The portfolio is currently comprised of 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. Upon closing of the transaction, the brand and hotel portfolio will become part of Marriott's franchise system. The closing of the transaction is subject to the approval by COFECE. Marriott expects the transaction could close between the end of 2022 and the first half of 2023. Morgan Stanley (NYSE:MS) acted as financial advisor to Hoteles City Express, S.A.B. de C.V. Glover, Stephen of Gibson, Dunn & Crutcher LLP acted as legal advisor to Marriott International, Inc.
Marriott International, Inc. (NasdaqGS:MAR) completed the acquisition of Express brand portfolio of Hoteles City Express from Hoteles City Express, S.A.B. de C.V. (BMV:HCITY *) on May 1, 2023.
Marriott International, Inc. specializes in hotel operating. Net sales break down by activity area as follows:
- The United States and Canada (79.9%):
- International (20.1%).
At the end of 2023, the group operated 8,785 hotels and residences (1,513,926 rooms) under the brands JW Marriott, The Ritz-Carlton, St. Regis, W Hotels, The Luxury Collection, EDITION, Bulgari, Marriott Hotels, Sheraton, Westin, Courtyard, Residence Inn, Le Méridien, Fairfield by Marriott, SpringHill, Renaissance, Four Points, AC Hotels by Marriott, Protea Hotels, Element, Moxy, etc., distributed between franchised hotels (6,563; 994,354 rooms), managed hotels (2,046; 575,963 rooms), owned and leased hotels (50; 13,115) and residential hotels (113; 11,481). In addition, the group is developing a real estate development business under its own brands.
MARRIOTT INTERNATIONAL, INC. 
