Marriott International Reaches Agreement With Hoteles City Express, S.A.B. de C.V. to Acquire the City Express Brand Portfolio

October 19, 2022

Marriott International (NASDAQ: MAR) announced today that it has reached an agreement with Hoteles City Express, S.A.B. de C.V. (BMV: HCITY) to acquire the highly regarded City Express brand portfolio, marking Marriott’s entry into the affordable midscale segment with its 31st brand. 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. Marriott will also acquire the franchise rights to five under-construction projects in the pip...