Canadian tour operator Transat AT is to enter a joint venture with Barcelona-based H10 Hotels to own and operate five hotels in Mexico and the Dominican Republic.
The deal is the largest in the company’s history, valued at US$55m.
Two of the five hotels are set to open in December.
Transat is one of the largest hotel room-night buyers in the area and aims to add a new hotel every 18 months to increase its number of rooms from 1,600 to between 5,000 and 6,000.
By Felicity Crump