Home Business-newBusiness Grupo Posadas announces investment of 14 billion pesos for the construction of 21 hotels

Grupo Posadas announces investment of 14 billion pesos for the construction of 21 hotels

by Yucatan Times
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Grupo Posadas announced on Thursday, April 25th, an investment of 14,5 billion pesos for the construction and opening of 21 new hotels between this year and 2026.

The complexes, which are part of the expansion plans, will represent an offer of 3,719 additional rooms.

“The hotels under development correspond mainly to the Live Aqua, Grand Fiesta Americana, Fiesta Americana and ONE brands,” the largest hotel operator in the country said in a statement.

The company detailed that the majority of the new rooms, 86 percent of the total, will be found in city destinations, the rest in beach locations.

“This expansion plan seeks to strengthen this last segment (beach) which during this quarter presented occupancy factors of 84 percent,” said the company.

Grupo Posadas explained that it will contribute two percent of the total investment, while 98 percent will be in charge of a group of independent investors.

The company added that the remodeling of the Fiesta Americana Condesa Acapulco hotel, which was affected by Hurricane Otis, will cost approximately 670 million pesos, of which Posadas will finance 15 percent and the rest will be covered by insurance policies.

The project has a partial opening date for October 2024, where it is planned to open common areas and 10 floors of the hotel. The next nine floors will open before the end of the first quarter of 2025.

TYT Newsroom

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