Marriott receives approval from Mexican authority for City Express acquisition
Marriott International (NASDAQ:MAR) on Friday announced the receipt of approval from Mexico's Federal Economic Competition Commission for its acquisition of the City Express brand portfolio from Hoteles City Express (OTC:HOCXF).
The transaction, originally announced in October 2022, could close in the second quarter, subject to the satisfaction of other customary closing conditions.
Upon closing, City Express will become Marriott's (MAR) 31st brand and will be updated with its signature "by Marriott" endorsement.