Marriott's Massive Expansion Across the Caribbean and Latin America
Photo Credit: A City Express by Marriott lobby. Marriott International
Skift Take
Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.
The DJIA was down 62 points, while Nasdaq fell 21, the S&P 500 was down 19% and the 10-year treasury yield was up .04 to 4.30%. Lodging stocks did not repeat Friday’s spectacular performance but HLT and H did hit new highs. SOND was up another 17%, VCSA was up 8%, and AINC rose 6% on the day.
JLL’s U.S. Hotels latest chart of the week shows record-high pricing for full-service hotels is indicative of rising investor demand, as evidenced by the elevated levels of $1 million per key trades. Following the impact of the pandemic in 2020, the number of single-asset hotel transactions in the U.S. with an average price per key exceeding one million has experienced a remarkable surge, reaching record-high levels over the last three years. Hotels that command prices above $1 million per key include trophy assets of renowned international hotel brands located in major global cities as well
