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Mexico’s Largest Hotel Company will Open Two New Hotels in the Riviera Maya

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The Riviera Maya will have a new Mega Hotel consisting of two luxury properties from the largest Mexican Hotel Company: Grupo Posadas. They signed two contracts with Fibra Hotel to operate a new Live Aqua Resort and a Fiesta Americana Grand, with a total of 700 rooms.

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With this transaction, Posadas will recover its presence in Cancun and Tulum after selling 855 rooms last year, belonging to the Live Aqua Beach Resort and the Fiesta Americana All Inclusive. The new owners of these hotels are the brothers Moises and Max El-Mann, and they turned them into the Conrad and Hilton.

The Posadas Group filed for Chapter Eleven of the United States Bankruptcy Law back in October 2021. This decision was made to restructure 393 million dollars within two months, letting go of 10 Fiesta Americana hotels and all the accounts that had not been collected from the Vacation Club program.

Posadas informed the Mexican Stock Exchange (BMV) that they would start the process voluntarily in the U.S. “Grupo Posadas and one of its subsidiaries voluntarily initiated a Chapter 11 and restructuring proceeding, before the U.S. Bankruptcy Court for the Southern District of New York.” Days before declaring bankruptcy, Posadas launched two brands, one that marketed to the business segment: IOH, coworking space, which offers flexible shared workspaces services similar to “We Work.” And on the other hand, “Curamoria” which is targeted to the intimate boutique hotel segment.

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The Posadas Group was hit hard by the global pandemic. Yet, it ended the year with 186 hotels, including the two new brands, as it has already recovered 70% of its operation; but still maintained the business at a percentage of 40%. The hotel company headed by José Carlos Azcárraga estimates it will reach pre-covid levels in the second half of 2022.

With these two new mega-resorts, Cancun will expand its hotel offer with more than a thousand rooms: Live Aqua Beach Resort with 452 rooms and Grand Fiesta Americana with 600 rooms. Hotel operator Posadas announced these two new developments in Cancun in addition to nine other projects the company has in the region.

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Live Aqua is a luxury resort and residential club brand operated by Posadas. Live Aqua Beach Resort Riviera Cancun, an adults-only resort, will offer 452 rooms, 19 restaurants with a wide gastronomic and mixology offer, a spa, Aqua Club, and event venues.

On the other hand, the Grand Fiesta Americana Riviera Cancun has a different concept aimed at families. The complex comprises 600 rooms, 19 restaurants, a spa, theater, and attractions for teenagers and kids, including a water park and wedding venues. Likewise, the two resorts will share a convention center with a capacity of more than 2,000 people.

Posadas operates a number of brands in Quintana Roo, such as Live Aqua Beach Resort, Live Aqua Urban Resort, Live Aqua Boutique Resort, Grand Fiesta Americana, Curamoria, Fiesta Americana, The Explorean, Fiesta Americana Vacation Villas, One Hoteles, among others.

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This news comes after the Tourism Secretary, Miguel Torruco Marqués, reported that in January 2022, more than 1 million, 468 thousand tourists arrived in Mexico via air travel, which indicates an increase of 123.6% in comparison with January 2021, and these numbers are very close to those of January 2019.

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The official said that the main countries for arrivals of international tourists by air to Mexico in January 2022 were: the United States, Canada, and Colombia; which brought in a total of 1 million 77 thousand tourists, this is 113.8% more than in 2021; and it’s about to reach the number of tourists of these nationalities for 2019, which was 1 million 224 thousand visitors.

Torruco Marqués added that in January 2022, the airports of Cancun, Mexico City, and Los Cabos were the ones that received the highest number of international tourists, attracting 1 million 110 thousand passengers, which means an increase of 121.2% compared to 2021.

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