Mexico: Hotel chains will add 352 new properties

The main hotel chains operating in Mexico plan to open 352 new properties in the 2019-2022 period, this derived from their growth estimates for tourism in the country.

According to the ‘Hospitality Mexico’ study, carried out by the consultancy CBRE, in the next three years City Express Hotels, directed by Luis Barrios, will add to its portfolio around 80 new accommodation units, being the hotel chain with the greatest expansion for the term.

“City Express Hotels, whose focus is business travelers in the economic segment, is the one that shows the greatest growth in the number of hotels in the short term,” explained the analysis of the firm headed by Yadira Torres.

At the end of this year, City Express will open its 152nd property, adding up to 17,000 rooms in its portfolio.

“We see a challenging economic outlook, but we continue with positive ideas of continuing to position ourselves in city centers and economic developments in the country,” José Luis Carrete, director of Innovation for the company, said in a recent interview.

Los Arcos Condominiums, Courtyard by Marriott. Mazatlan Sinaloa

In the second site with the largest number of openings for 2022 is AMResorts, which expects to add 66 hotels.

Meanwhile, Grupo Posadas, led by José Carlos Azcárraga, will be located in the third site, since it is preparing to disburse, in conjunction with private investors, around 30 billion pesos to open and operate 48 new properties.

La Tour Hotels and Resorts also plans for new Hotel Resort in Celestun Yucatan.

However, the main national and international hotel businessmen remain on the lookout for changes in tourism policy, as well as in the promotion of the country abroad.

“The most recent announcements are aimed at redirecting the tourism promotion strategy and this has led the National Tourism Business Council (CNET) to rethink its investment goal of 500 billion pesos coupled with the cancellation of the Texcoco airport,” said CBRE.

Despite the investment announcements, analysts anticipate that some chains could adjust their plans in Mexico, due to the cancellation of the New Mexico International Airport that was building in Texcoco and the disappearance of the Mexican Tourism Promotion Council.

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Source: El Financiero, Real Estate Market

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