London’s Murano Global Investments, SPAC head to NASDAQ

LONDON – Murano Global Investments Plc., a London-based owner, developer and investor in hotel, resort and commercial properties throughout Mexico, has completed its business combination with HCM Acquisition Corp., a special purpose acquisition company.

The combined company will operate as Murano Global Investments and its common stock and warrants will begin trading on Thursday, March 21, 2024, on the Nasdaq Capital Market under the ticker symbols “MRNO” and “MRNOW”, respectively.

As a public company, Murano Global Investments will focus on advancing its development projects across top tourist destinations in Mexico, expanding its relationship with global hospitality brands and identifying attractive investment opportunities that align with its long-term growth strategy.

Murano’s current portfolio includes an Andaz hotel (operated by Hyatt) and a Mondrian hotel (operated by Accor) in Mexico City as well as luxury projects in Cancun, which includes the 1,016 room Grand Island I hotel project opening in April 2024 under Hyatt’s Vivid and Dreams brands. It also has project in Baja.

Shawn Matthews, CEO of HCM stated, “Murano Global Investments is one of the very few entities that have the vision, experience and professional network to succeed in Mexico’s nuanced real estate development and hospitality market. It is these differentiators that initially drew us to the company and having gotten to know the team better over the course of this process, I’m confident it will succeed in executing its growth strategy. We look forward to continuing to offer our support along the way as shareholders, advisors and friends.”

Over the last 20-plus years, Murano’s management team has deployed more than $2 billion in total capitalization for the acquisition, repositioning and development of transformational real estate projects.

Murano management is led by Chief Executive Elias Sacal, Chief Operating Officer Marcos Sacal and Chief Financial Officer David Galan.