Among
the noteworthy deals of the past week was Royalton Hotels & Resorts and
Alojica’s acquisition of The Westin Resort & Spa, Cancun in Mexico.
CANCUN,
Mexico — St. Michael, Barbados-based Royalton Hotels & Resorts and
Mexico-based investment platform Alojica have finalized the purchase of the
372-key The Westin Resort & Spa, Cancun, in Mexico, from affiliates of
Marriott Vacations Worldwide for an undisclosed amount.
Royalton and
Alojica are planning renovations to turn it into an all-inclusive hotel in the
Marriott portfolio.
“The Westin
Resort & Spa, Cancun represents our fourth lodging investment in Mexico and
our second collaboration with Royalton, a world-class all-inclusive hotel owner
and operator,” said Eduardo Ahumada, senior vice president of Alojica.
“This
acquisition underscores Royalton Hotels & Resorts’ confidence in the
long-term fundamentals of the Mexican hospitality market and the growing
institutional demand for high-quality all-inclusive assets,” said Daniel Díaz,
executive vice president of Royalton.
To download
our list of deals from the past week in Excel format, click here.
Deals of the
Week is a weekly feature by Hotel Investment Today that publishes in our Friday
newsletter. Click here for previous deal compilations from earlier weeks.