Monday, March 30, 2015

3 chains announce new hotel plans

Quinta Real in Monterrey
Quinta Real in Monterrey: Grupo Real has plans for more.


Hardly a week goes by without an announcement of new hotels in Mexico.

This week it’s Singapore-based Banyan Tree Hotels and Resorts, Grupo Real Turismo and Holiday Inn with plans to open 15 new hotels over the next three years at a cost of US $550 million.
Banyan Tree expects to complete 10 projects during that time frame, investing $300 million in the luxury and business travel sectors. Some will be new developments, others will be acquisitions, said Abid Butt, general manager of Banyan Tree Hotels and Resorts.

One reason Mexico is attractive to the company is that revenues are in dollars and expenditures are in pesos, resulting in higher levels of profitability, he said.

Banyan sees Cancún and Los Cabos as key areas for its future developments. It currently has two properties in Mexico, the Banyan Tree Mayakoba located in the initial phase of a huge tourism and residential project in Playa del Carmen, and the Cabo Marques in Acapulco. Worldwide it owns 37.
Four new hotels are planned by Grupo Real Turismo, three under the brand Real Inn in Santa Fe, Mexico City; Monterrey; and Querétaro. The fourth will be a Camino Real hotel in Tijuana.

All four will represent an investment of $220 million this year and next.

Owned by the Mexican firm Grupo Empresarial Angeles, whose holdings include businesses in the health, financial and communications sectors in addition to tourism, Grupo Real said in a release that it expects Mexico to thrive if it continues to offer the conditions necessary for private firms to grow.
General manager Eduardo Ymay said this week during Tianguis Turístico, the annual tourism conference that was held this year in Acapulco, the firm will be looking for further opportunities for its Real Inn chain, which caters mainly to business travelers.

Grupo Real recorded a 13.5% increase in sales last year, and a 15% increase in earnings. It owns 30 Camino Real hotels, 10 Real Inn properties and another 10 Quinta Real hotels, which are located in tourist destinations.

The third hotel announcement came from InterContinental Hotels Group, which confirmed the construction of a second Holiday Inn in Mazatlán, to be located on the waterfront in the city’s golden zone. Its first hotel in the city is currently under development.

Combined, the two represent an investment of $30-35 million. Company spokesman Octavio Navarro said Mazatlán is looking attractive as a result of an increase in visitors arriving via the new Durango-Mazatlán highway and initiatives undertaken by the Northern Economic Corridor, an economic alliance of eight states.

The company is also looking at new hotels in the cities of Guasave and Los Mochis, also in Sinaloa.

Sources: El Financiero (sp), El Debate (sp)
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