Royalton Hotels & Resorts and investment platform Alojica have finalised the purchase of The Westin Resort & Spa, Cancun, in Mexico, from affiliates of Marriott Vacations Worldwide.
The new ownership intends to implement a capital improvement programme at the property with plans to convert it into an All-Inclusive by Marriott Bonvoy resort, continuing operations under the Westin Hotels & Resorts brand.
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The Westin Resort & Spa, Cancun is situated in Punta Nizuc at the end of the Cancun Hotel Zone, close to Cancun International Airport.
The resort comprises 372 guest rooms and suites, five dining venues, approximately 20,000ft² of meeting facilities, and several amenities, including a spa and a children’s club.
Architect Ricardo Legorreta designed the property.
Alojica senior vice-president Eduardo Ahumada said: “The Westin Resort & Spa, Cancun represents our fourth lodging investment in Mexico and our second collaboration with Royalton, a world-class all-inclusive hotel owner and operator.”
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By GlobalDataBlack Creek Mexico manages private real estate investments across several sectors in Mexico and has been active since 1996, overseeing more than 175 property transactions valued at over $3bn.
Alojica focuses exclusively on lodging investments within Mexican markets and seeks institutional investment opportunities in leading resort destinations throughout the country.
Royalton Hotels & Resorts operates all-inclusive resorts across seven destinations in the Caribbean.
Royalton Hotels & Resorts executive vice-president Daniel Díaz said: “This acquisition underscores Royalton Hotels & Resorts’ confidence in the long-term fundamentals of the Mexican hospitality market and the growing institutional demand for high-quality all-inclusive assets.
“Alojica has demonstrated a disciplined investment approach and a clear long-term vision in identifying and repositioning premium resort opportunities. We are pleased to partner once again on a landmark asset in Cancun, where Royalton will contribute its operational expertise to support value creation, capital efficiency, and the successful repositioning of the resort as a Westin All-Inclusive alongside Marriott International.”
