City Express by Marriott to Expand Into the U.S. and Canada

Key Points

• CBRE's 2024 Global Midyear Hotels Outlook indicates a revised RevPAR growth forecast of 1.2% for U.S. hotels, with stronger performance expected in the latter half of the year.
• Marriott International plans to expand the City Express brand into the U.S. and Canada, marking its entry into the affordable midscale transient segment.
• Northern Latin American countries like Colombia, Costa Rica, and Mexico are experiencing strong tourism trends, boosting hotel occupancy and attracting foreign investments.

Summary

The 2024 Global Midyear Hotels Outlook by CBRE forecasts a 1.2% growth in U.S. RevPAR, with better performance predicted in the second half of the year due to election-related demand and increased international travel. Marriott International is expanding its City Express brand into the U.S. and Canada, entering the affordable midscale transient segment. Meanwhile, Northern Latin America, including countries like Colombia, Costa Rica, and Mexico, is experiencing robust tourism growth, enhancing hotel occupancy rates and drawing foreign investors.