SAO PAULO, Feb 15 (Reuters) - Hotel operator Marriott International Inc (NYSE:MAR) said Tuesday it plans to
expand its hotel network by 40 percent in two years in Latin America, its fastest growth region after the United
States and Canada.
The Washington D.C.-based company said it will bring the number of hotels under management in the region to 37
from 26 and increase the number of rooms by 30 percent by the end of 2001.
Marriott officials declined comment on the amount of investment planned for the region.
``We are very bullish on Latin America,'' said chief executive officer J.W. Marriott. ``We want to participate
in its growth.''
In the region's largest country, Brazil, Marriott only has one hotel now.
But it will open two resort hotels in the northeastern state of Bahia in September. The hotels were built by local
pension fund Previ and construction conglomerate Odebrecht at a cost of around 200 million reais ($115 million).
The chain is also building a hotel on Rio de Janeiro's famed Copacabana Beach, which is scheduled to open at the
end of this year or in early 2001.