Mexican Hotels: Seeking Suits, Not Sun and Sand Eduardo Garcia - FT.com
go to original June 24, 2013

LISTEN: Claudia Ruiz Massieu, Secretary of Tourism in Mexico, says tourism is vital to employment in the country. Ruiz Massieu talks with Bloomberg's Pimm Fox and Carol Massar on Bloomberg Radio's "Taking Stock." (Bloomberg)

Travellers have long looked upon Mexico as mainly a “sol y playa” (sun and beach) destination.

But given a recent spate of hotel acquisitions over the past three months, that stereotype might need some revisiting. Mexico is no longer just for leisure travellers, it’s also becoming something of a business destination.

Indeed, most of the deals in the Mexican hotel sector in recent months have involved hotels that cater to business travellers.

Earlier this month, Fibra Uno, a real-estate investment trust, announced the acquisition of a Hilton Hotel in Mexico City’s downtown area, while Vertex Real Estate and BK Partners snapped up a Four Seasons hotel located in the city’s main thoroughfare, Paseo de la Reforma.

While both hotels serve some tourists, they are more frequently used by business travellers, from abroad and within Mexico.

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