Six new luxury hotel developments are reported to be the source of major current investments in the tourism-centric, Mexican Caribbean state of Quintana Roo. The projects are said to represent around $400 million worth of combined capital being staked in the region.
NITU.mx has reported that state government data from the first quarter of 2019 revealed Quintana Roo to have received $111 million in direct foreign investment during that period.
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In an interview, Bernardo Cueto Riestra, general director of the Institute for Development and Financing of the state of Quintana Roo, told NITU.mx that major tourism investment in the region is being maintained. “All of these investments represent that trust you have in the state,” he said.
Riestra revealed that 2019’s first-quarter foreign investment figures were, “two percent above the same period of the previous year, which also shows that it continues to maintain economic growth in foreign investment, and we continue to be quite a state attractive investment in foreign capital.”
The new Saint Regis Kanai hotel in Cancun’s Benito Juárez municipality is already under construction, which, alone, represents a $200-million investment.
Also located in the Benito Juárez district, the Waldorf Astoria Cancun is currently being built to the tune of $80 million. Together, these two luxury hotel complexes will bring 174 new guest rooms and 32 villas to the area.
Also underway is the new, all-inclusive Hilton Cancun with an additional inventory of 600 rooms, which will share land with the Waldorf Astoria Cancun as part of a larger, Hilton-owned resort complex. Both hotels are slated to begin operations in 2021.
In the nearby municipality of Isla Mujeres, Cancun Planet Hollywood plans to deliver 1,000 new guest rooms a cost of over $94 million.
Tulum will receive two new properties from the Posada Group brands—a LIVE Aqua and a Fiesta Americana hotel, which will offer a combined total of 845 rooms at an investment of over $23 million.