Openings of new units, investments in renovation and new projects define the recent news of the sector.
Despite the fact that the tourism sector had the worst year in its history in 2020, it is surprising that various hotel groups are announcing new openings of units in Mexico, both in beach destinations and in various cities.
Real Estate Market & Lifestyle published in previous days that the Gross Domestic Product (GDP) of the tourism sector had a contraction of -26.7% considering original figures and their annual comparison. In this way, throughout the entire year 2020, the GDP of the industry without chimneys contracted -28.6 percent.
However, this has not been an impediment for hotel groups to stop contributing in Mexico. Over the last few months, we have seen various announcements of unit openings from various groups, some examples are the following:
AMResorts reported recently that on December 21, 2021, the new Breathless Cancun Soul Resort & Spa will open its doors, located between the Caribbean Sea and the Nichupté Lagoon, with 429 suites.
Grupo Hotelero Prisma inaugurated the JW Marriott Monterrey Valle at the end of April, taking the brand to the capital of Nuevo León, with a unit of 250 rooms and suites. The investment amounted to 1,374 million pesos by Fibra Inn and will generate more than 200 direct jobs once it reaches stable occupancy levels.
A few days ago, the Sordo Madaleno Group reported that as part of the expansion of the Antara mixed-use project, in Polanco, Mexico City, they will develop the Rosewood Mexico City hotel and it is planned to conclude in 2024, with 133 rooms, 35 of which will be suites.
Equally important are investments in the renovation of hotels, such as the case of RLH Properties, a Mexican hotel operator that announced an investment of 132 million dollars to renovate three units located in Spain and Mexico. These are the Rosewood Villa Magna hotels in Madrid and Banyan Tree Mayakoba and Fairmont Mayakoba in Mexico.
We know that not all hotel groups are investors, in many cases they are only operators. However, behind each opening, there is capital and job creation, so it is important that the sector does not stop despite the crisis that we have not yet overcome.