BETHESDA, Md., Feb. 26, 2013 /PRNewswire/ -- Marriott International (NYSE: MAR) announced today plans to open a new 162-room Courtyard by Marriott Hotel in Recife, Pernambuco, Brazil's largest and most modern city in the Northeastern region of the country. The hotel project is developed under a management agreement with Rio Ave Ltda., a prominent, local real estate developer. This project, already in construction, will be the Rio Ave Ltda.'s first venture into the lodging sector and is scheduled to open in the second quarter of 2014, before the World Cup. The new Courtyard by Marriott property will be located ten minutes from the Guararapes International Airport, and situated in Recife's upscale Boa Viagem neighborhood known for its great shopping, five star restaurants, and close proximity to the beautiful beaches.
"We are very excited about developing our first hotel property and in partnership with Marriott International," said Mr. Alberto Ferreira da Costa, President of Rio Ave Ltda. "With the brand's strong reputation and preference in Latin America, we are confident that the Courtyard by Marriott hotel in Recife will be very successful."
"We are fortunate to have great local partners in Brazil, with whom we expect to grow many successful hotels within the market," commented Craig S. Smith, President of Caribbean & Latin America at Marriott International, Inc. "With this project, not only are we bringing more hotel rooms to the Brazilian market, but doing so in a vibrant city like Recife which is set for revitalization and tourism growth.""This hotel reinforces Marriott International's continued growth efforts in Brazil," says Laurent de Kousemaeker, chief development officer for Marriott International, Inc. in the Caribbean & Latin America. "In the last few years the Northeast of Brazil has become an economic powerhouse. Today it is the fastest growing region in the country and we are extremely proud to be a part of that growth and to have Rio Ave as partners in this key region of the Brazilian market." In addition to 162 guest rooms, the 12 story hotel will feature the brand's refreshing business lobby, a casual dining restaurant, 300 square meters (3,230 sq. feet) of meeting space, recreational facilities include a swimming pool and a fitness center and ample parking.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV