MARAEY signs deal with Marriott International to build three hotels on Rio de Janeiro's Sun Coast
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MARAEY, Brazil's principal sustainable tourist-residential enterprise has signed an agreement with Marriott International (NASDAQ:MAR) to build three distinct hotels in MaricÃ¡, Rio de Janeiro. 
The three hotels are expected to have more than 1,100 of the highest-standard rooms and estimated MARAEY investment of ~$360M.

The brands include the Ritz-Carlton Reserve, which will have its first resort in South America; JW Marriott, which is expected to be one of the brand's first all-inclusive hotel in the world; as well as the Rock in Rio, Autograph Collection, the first hotel with the festival's brand.
The construction of the properties is expected to begin in H2 2023.
 "It has been an exciting experience to develop this unique tourist and residential proposal for MARAEY, always focused on the highest parameters of sustainability, innovation, construction and quality, including an impressive range of experiences for future guests and residents," said Daniel Miguel, CEO of Abacus Property Development.