MARAEY signs agreement with Marriott to build three distinct hotels in Marica

MARAEY announced that it has signed an agreement with Marriott International, Inc., to build three distinct hotels in Marica, Rio de Janeiro. The projects are strategically located to create an international tourist destination focused on sustainability and innovation, as well as high-end service and experiences. Situated just 45 km from Rio de Janeiro, the three-hotel complex is anticipated to mark the introduction of the exclusive Ritz-Carlton Reserve brand to Brazil and South America. In addition, the planned JW Marriott is expected to be one of the brand’s first all-inclusive hotels in the world. The innovative Rock in Rio, Autograph Collection, is slated to be the first thematic hotel bearing the name of the popular festival that attracts thousands of fans. With MARAEY’s estimated investment of approximately $360M, the properties are expected to feature more than 1,100 rooms, generate more than 16,000 direct and indirect jobs during the building phase, and create over 3,500 positions once operational. An Economic Impact Study, developed by Abacus Group, indicated the hotels will catalyze economic and tourism expansion in Rio de Janeiro state and Brazil, with a projected 300,000 direct and 150,000 indirect visitors per year.