Marriott, FibraHotel Strike 20-Hotel Partnership Deal

Law360, New York (November 15, 2013, 1:18 PM EST) -- Marriott International Inc. has struck a deal to develop and operate 20 new hotels with Mexico-based real estate investment trust Concentradora Fibra Hotelera Mexicana SA de CV, a move that will significantly grow Marriott's Latin American presence, according to a Thursday statement.

Per the agreement, the first six hotels for the partnership pipeline have been selected, with the rest to be selected and opened by 2016, according to the statement. As a result of the new partnership, Marriott has also opened a new development office in...
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