Marriott Officially Adds Its 31st Brand City Express
Skift Take
- Marriott International, Inc. said Monday it had completed its acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V.
- A solid beat and raise was repeated over and over again today by analysts when commenting on Park Hotels & Resorts’ earnings report.
- Vacasa Inc. has become the second new-age lodging SPAC to receive notice from Nasdaq that if they don’t get their stock price above $1, they could be delisted.
The DJIA was down 46 points while Nasdaq was down 14, the S&P 500 fell 2 points and the 10-year treasury yield was up .12 to 3.57%. Lodging stocks were mixed. SHCO was up 9% and AHT was up 6% to lead the groups big movers.
Marriott International, Inc. said Monday it had completed its acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V.. With this acquisition, Marriott International has entered the affordable midscale segment and is launching its 31st brand, City Express by Marriott. The existing City Express hotel portfolio of approximately 150 properties includes urban, suburban, and extended stay offerings in Mexico, Costa Rica, Colombia, and Chile. The transaction has increased Marriott’s presence in the CALA region by approximately 45 percent, to over 480 properties across 37 countries.
A solid beat and raise was repeated over and over again today by ana
