The US-based hotel giant will open 60 new properties in the region by 2018, which will see a tripling of its portfolio in Brazil.

Marriott currently has 93 hotels operating across the region with more than 60 properties under development, including 11 planned hotels across six Brazilian cities.

The $100 million expansion in Brazil will see Marriott launch four brands in the destination: Courtyard by Marriott, Residence Inn by Marriott and Fairfield Inn by Marriott and AC by Marriott.

Tim Sheldon, Marriott’s president of Caribbean and Latin America, said: “Brazil’s economy, while it confronts structural and policy challenges, is still in the top 8 largest economies in the world and has excellent long term prospects.

“The lack of reliable domestic hotel product and services represents a large opportunity for our moderate-tier brands, which we have adapted to the tastes of the Brazilian travellers - providing them both value and options.”

Marriott has opened eight hotels in the Caribbean and Latin America, with another nine due to open by the end of 2015 - JW Marriott Puerto Los Cabos in Mexico is set to be the company’s 100th property in the region when it opens next month.

Sheldon added: “In 2015 our company’s theme in the region has been ’crossing new borders’ as we open hotels in exciting developing markets like Haiti and Guyana.”