Marriott International announced that it has received approval from Mexico’s Federal Economic Competition Commission, COFECE, for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V., paving the way for the company’s entry into the affordable midscale segment. Marriott expects that the transaction, originally announced in October 2022, could close in the second quarter, subject to the satisfaction of other customary closing conditions.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MAR:
- Marriott International Receives Regulatory Approval To Complete City Express Brand Acquisition
- Marriott signs agreement with Grimit to bring Ritz-Carlton brand to Italy
- Marriott price target raised to $187 from $183 at Baird
- Marriott announces organizational structure, executive appointments
- Marriott price target raised to $205 from $185 at Truist