Hotels bet big on Mexican tourism: mayor competitors plan 352 new properties in the next 3 years
Source：El Financiero
From：Taiwan Trade Center Mexico
Update Time：2019/02/20
The main hotel chains that operate in Mexico are planning to open 352 new properties between this year and 2022, according to an analysis conducted by the real estate firm CBRE.
City Express Hotels, which mainly targets business travelers, will lead the way by opening 80 new properties over the next 3 years.
AMResorts plans to open 66 new hotels in the same period, while Grupo Posadas will open 48 with a US $1.5 billion investment.
Marriot, the NH Group, Hotels Misión and the Intercontinental Hotels Group have, in that order, the next ambitious plans. The four chains will collectively open around 150 new hotels over the next 3 years.
The CBRE study was based on information publicly disclosed by the hotel chains but some analysts believe that plans could change due to the cancellation of the New Mexico City International Airport and the elimination of the Tourism Promotion Council.
Nevertheless, the Mexican Hotel and Motel Association (AMHM) is forecasting that the number of luxury hotels in Mexico this year will be time-share properties or vacation clubs, according to Juan Ignacio Rodríguez, the executive Director in Latin America of timeshare vacation exchange.
Source: https://mexiconewsdaily.com/news/hotels-bet-big-on-tourism/