Marriott International plans to unveil a new midscale extended-stay brand in the coming weeks.
During the company's Q1 earnings call on Tuesday, Marriott CEO Tony Capuano described the new offering as a "simple, modern, streamlined, newbuild extended-stay product."
Marriott will be the latest hotel company to debut an extended-stay concept in recent weeks, following Hyatt's launch of Hyatt Studios as well as news of a coming extended-stay brand from Hilton.
The new brand would join Residence Inn, TownePlace Suites, Marriott Executive Apartments and Element by Westin in Marriott's extended-stay portfolio. (Marriott also categorizes its Homes & Villas rental product as part of its extended-stay portfolio.)
Concurrently, Marriott plans to further expand in the midscale space via its acquisition of the City Express brand. Marriott announced an agreement to acquire City Express from Mexico's Hoteles City Express late last year, with that transaction officially closing earlier this week.
Capuano told analysts that the company sees "immediate opportunity to accelerate the growth of City Express" in the Caribbean and Latin America.
City Express is Marriott's first brand in the midscale sector. It is the company's 31st brand.