Ritz-Carlton is set to open its first hotel in Mexico City in 2019, marking the firm’s entry into one of the region’s most prominent capital cities.
The new 153-room property will operate under a long-term management agreement with Thor Urbana Capital and Heldan Hotels & Resorts.
Ritz-Carlton president Herve Humler said: "We are thrilled to collaborate with Thor Urbana Capital and Heldan Hotels & Resorts to expand our presence in the Caribbean and Latin America, particularly in Mexico City, an epicenter of commerce and culture.
"Mexico remains one of the largest and most important international markets for our company, and we are confident that our legendary Ritz-Carlton service and culture is a perfect match for this vibrant, exciting destination."
Part of the Chapultepec Uno mixed use project, the hotel will be located at the intersection of Avenida Reforma and Circuito Interior in Mexico City.
After completion of the project, the structure will feature 58 floors and 1.1 million square feet of space.
The design and architectural efforts were carried out by KMD Architects and Taller Global.
The property will occupy floors 36-47 of the building and will feature signature Ritz-Carlton luxury services and amenities, including a Club Lounge and spa.
Heldan Hotels & Resorts CEO Gabriel Helfon said: "Travel to Mexico continues to grow for both business and leisure travel throughout the Caribbean and Latin America region and for inbound travel to the US.
"This project will play a helpful role in the continued emergence and success of Mexico City as a leading international destination."
In May, Ritz-Carlton signed an agreement with UAE-based Al Habtoor Group to open its first luxury hotel in Budapest.
The hotel, which is currently owned by Al Habtoor Group is set to be renovated in the beginning of 2016, with work expected to be completed in the second quarter of 2016.
Image: Ritz-Carlton hotel in Mexico City will feature 153 rooms and offer luxury services and amenities. Photo: courtesy of The Ritz-Carlton Hotel Company.