Marriott International completed the acquisition of the brand portfolio from Hotels City Express for $100m.

Marriott International, an American multinational diversified hospitality company, completed the acquisition of the brand portfolio from Hotels City Express, a firm engaged in the ownership, operation, and management of hotels, for $100m. "We are thrilled to expand our portfolio into the fast-growing affordable midscale segment. Our goal is to be everywhere our guests want us to be, with the right property in the right location at the right price point. The City Express brand acquisition is an important first step as we enter this attractive segment, allowing us to provide a wider range of choices to our guests, as well as more growth opportunities for our owners and franchisees," Leeny Oberg, Marriott International Chief Financial Officer and Executive Vice President.