CHICAGO
Hyatt Hotels Corp. has completed its previously announced acquisition of the 756-room Hotel Nikko Mexico and rebranded the property as the Hyatt Regency Mexico City. Ramping up its expansion in Latin America, Hyatt also announced plans for eight Hyatt-branded hotels in Latin America, in addition to four previously-announced hotels under development, for a total of 12 Hyatt-branded hotels under development in Latin America.
Over the next three years, a Hyatt affiliate is expected to invest approximately $40 million to renovate Hyatt Regency Mexico City to strengthen the hotel’s competitive position as the preferred business and leisure hotel in Polanco, Mexico City’s most desirable area.
Of the eight agreements being announced, six are for hotels in Mexico, one is for a hotel in Colombia and one is for a hotel in Chile. In Mexico, the projects are: Park Hyatt Los Cabos; Park Hyatt Riviera Maya; Andaz Mayakoba; Hyatt Plaza; Hyatt Place San Jose del Cabo and Hyatt Place Tijuana. In Columbia, the Hyatt Regency Cartagena is expected to open in 2015 while, in Chile, the Hyatt Place Vitacura is slated to open later this year.
There are currently eight full service Hyatt-branded hotels in Latin America. Argentina has the Palacio Duhau Park Hyatt Buenos Aires and Park Hyatt Mendoza; Brazil features the Grand Hyatt Sao Paulo; the Grand Hyatt Santiago is in Chile and, in Mexico, the company’s portfolio includes the Hyatt Regency Cancun, Hyatt Regency Merida, Hyatt Regency Mexico City, and Hyatt Regency Villahermosa.
