October 7, 2010 Marriott International and AC Hotels (based in Spain) announce a new joint venture that will thrive on the strengths of both companies and offer an urban, 4-star line of hotel accommodations in Europe and Latin America. The new JV will be called AC by Marriott. This new JV will focus on market leadership in Europe and Latin America. TO begin, more than 90 current AC Hotel locations will be re-branded and will enter into long-term management or franchise contracts wiht AC by Marriott.
The new AC by Marriott branded hotels are expected to launch in 2011, assuming the Joint Venture is approved and all documents closed byu the end of the 20-10 calendar year.
For more information, visit Marriott's Investor Relations ling below:
AC by Marriot Joint Venture
This will help ensure long-term growth with the company.
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