Mexico OKs Marriott’s City Express Acquisition
Marriott International has received approval from Mexico’s Federal Economic Competition Commission for its $100 million acquisition of the City Express brand, the company announced Friday.
With the approval, Marriott expects the deal with Hoteles City Express, announced in October, will close in the second quarter pending remaining customary closing conditions, the company said in a statement.
The acquisition would add about 150 hotels to Marriott’s portfolio, increasing the company’s footprint in the Caribbean and Latin America by 45 percent.
Angelique Platas www.businesstravelnews.com