Marriott International Receives Regulatory Approval to Complete City Express Brand Acquisition

Marriott International | March 10, 2023

Marriott International, Inc. (NASDAQ: MAR) today announced that it has received approval from Mexico’s Federal Economic Competition Commission, COFECE, for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. (BMV: HCITY), paving the way for the company’s entry into the affordable midscale segment. Marriott expects that the transaction, originally announced in October 2022, could close in the second quarter, subject to the satisfaction of other customary closing conditions. Upon closing, Marriott will acquire the Hoteles City Express brands (City Express, City Express Plus, City Express Suites, ...