New Hotelier Allots $700M for Mexican Market
- Oct 24, 2016
Cancún, Mexico—Timing is everything and it appears Atelier de Hoteles is launching at just the right time. The newly formed Cancún, Mexico-based company has revealed plans to invest a whopping $700 million in the thriving Mexican hotel market.
Atelier aspires to be more than the traditional lodging chain. The company’s goal is to be a “disruptive” entity in the hotel industry, bringing its own brand classification to Mexico’s most coveted urban and beach destinations. “We want to improve the experience of travelers, and we are ready to face the challenges posed by the hospitality industry of this millennium. That is why we will rate our hotels using different parameters in order to have better communication with contemporary travelers,” Francisco Gutiérrez, CEO of Atelier de Hoteles, said in a prepared statement.
The new hotel company’s brands are designed to appeal to specific sets of travelers. Met targets young and plugged-in travelers wanting the biggest bang for their limited buck at properties in major urban areas. Estudio will offer hotels in urban areas, as well as in beach communities, with accommodations targeting mid- to high-income business travelers and families. High-income travelers seeking an adults-only environment will find it at hotels flying the Atelier flag in urban and beach locations. Met, Estudio and Atelier will be new-build properties, but the company’s fifth brand, Leo, will open as redeveloped existing urban and beach hotels.
Atelier will waste precious little time raising its flags across Mexico’s most visited cities. The company plans to open 20 hotels encompassing an aggregate 5,000 guestrooms over the next five years, creating 10,000 jobs in the process.
Atelier has done its homework. With a favorable exchange rate and improved connectivity, overall visitation to Mexico has been on the rise, according to a report by commercial real estate services firm JLL, with a 9.6 percent year-over-year increase having garnered the country the position of the 9th most visited country in the world in 2015. “Mexico has the most developed hospitality sector in Latin America and has enjoyed record-breaking visitation levels for the past four years, evenly distributed across leisure and commercial destinations,” per the report.