Radisson Blu recently opened its first location in Chile. The opening of the Radisson Blu Santiago La Dehesa follows Radisson Blu Sao Paulo and Radisson Blu Belo Horizonte, Savassi in Brazil, which opened earlier this year.
Hilton Worldwide (NYSE: HLT) continues its expansion in Mexico with the opening of Hampton Inn by Hilton Piedras Negras. The newly built hotel, owned and managed by Administradora Inova RBC, joins the Hampton by Hilton family which also includes Hampton Inn & Suites by Hilton and Hampton Inn by Hilton hotels.
InterContinental Hotels Group (IHG), one of the world's leading global hotel companies, announces the signing of the Holiday Inn Express® Asuncion Aviadores hotel, the first Holiday Inn Express® hotel in Paraguay. The new-build 120-room hotel will be centrally located in Paraguay's capital city of Asuncion, and joins IHG's Crowne Plaza® Asuncion hotel, already open in Paraguay. Jorge Apaez, Chief Operating Officer, Mexico, Latin America and Caribbean, IHG said: "IHG is pleased to introduce the Holiday Inn Express brand to Paraguay with the signing of this new property in Asuncion. Paraguay is one of the fastest-growing economies in Latin America, making this the ideal time to grow the IHG portfolio in the country." Expected to be open by the end of 2018, the hotel will be in close proximity to the World Trade Center Asuncion, Shopping del Sol and Paseo La Galeria. The hotel will also be only 15 minutes from the Silvio Pettrossi International Airport.
The Yoo2 Rio de Janeiro by Intercity will open in July 2016. This is the first hotel in a new brand for YOO Hotels and Resorts. Yoo2 Hotels bring original design and local soul to each destination, creating a sociable environment for both hotel guests and the local community. The Yoo2 Rio de Janeiro is a partnership between YOO Hotels and Resorts and Intercity Hotels. YOO brings over 15 years of international experience in design, branding and marketing, which is complimented by the local expertise of Intercity Hotels within the Brazil market. Intercity Hotels will manage all properties in Brazil and there are plans to grow the brand throughout Brazil and globally.
The highly-anticipated 225-room AC Hotel Rio de Janeiro Porto Maravilha and the 378-room AC Hotel Rio de Janeiro Barra da Tijuca, have opened their doors, inviting guests to experience Brazil's newest class of lifestyle hotels. AC Hotels by Marriott celebrates the beauty of classic modern design with its European soul and Spanish roots, borne from the signature vision of renowned hotelier Antonio Catalan, who founded the brand in 1998.Marriott International formed a joint-venture with the successful brand in 2011 and has since launched AC Hotels by Marriott globally in France, Denmark, the United States, Mexico and now Brazil.
On July 13, RLH Properties successfully carried out a follow-on offering for a total of Mx$1,338'430,880.95 (approximately US$73.1 million), including overallotment, which represents a 48.49% of RLH Properties' equity. This is the first equity capital offering in Mexico after Brexit and the hike of interest rates by the Central Mexican Bank (Banco de México). Despite market conditions, the transaction generated a lot of interest and long-term commitments from investors, proving confidence in RLH Properties and its management team. In particular, confidence by institutional investors who acquired the largest percentage of the offering (especially, Mexican pension funds – "Afores").
Primary public offering for a total amount of Mx$1,338,430,888.95.
Price per share was settled at Mx$15.45, a 2% above the pricing at the IPO. A total of 86,629,831 shares were issued.
Through this offering, RLH Properties converts itself from a SAPIB to a SAB in record time. This case is an example of the opportunities that mid-cap companies can obtain financing through the Mexican Stock Exchange (BMV, by its Spanish initials).
Evercore Partners Mexico acted as Financial Advisor. Evercore Casa de Bolsa acted as Leading Coordinator and Underwriter of the public offering, and Casa de Bolsa Banorte Ixe together with BTG Pactual Casa de Bolsa acted as Underwriters.
Mexico City -- On July 13, RLH Properties successfully carried out a follow-on offering for a total of Mx$1,338'430,880.95 (approximately US$73.1 million), including overallotment, which represents a 48.49% of RLH Properties' equity. This is the first equity capital offering in Mexico after Brexit and the hike of interest rates by the Central Mexican Bank (Banco de México). Despite market conditions, the transaction generated a lot of interest and long-term commitments from investors, proving confidence in RLH Properties and its management team. In particular, confidence by institutional investors who acquired the largest percentage of the offering (especially, Mexican pension funds – "Afores").
The net proceeds of the follow-on will be used in the construction of the One&Only Mandarina Hotel to be located on a 34-hectare lot on the Nayarit Riviera. The net proceeds could also be used on potential investments in the Four Seasons Hotel in Mexico City, owned by RLH Properties, as well as towards potential acquisitions of high-end hotels reinforcing, therefore, RLH Properties' positioning as a reference in the luxury hotel sector.
It is important to consider that RLH Properties debuted in the Mexican Stock Exchange last November as an Anonymous Company of Investment Promotion in the BMV (SAPIB in Spanish), taking advantage of the modifications in the BMV regulation which facilitate the access of small and mid-cap companies to the BMV. After only eight months of RLH Properties' IPO, the company has now become a regular Listed Company (SAB in Spanish). RLH Properties is now a clear example of how these mid-cap companies can successfully access public market to obtain financing in Mexico.
On behalf of RLH Properties' team, we want to thank all the investors who participated in this offering, as well as our Underwriters (Evercore, Banorte and BTG Pactual) and Advisors (Galicia Abogados, Greenberg Traurig and PricewaterhouseCoopers).
Marriott International, Inc. (NASDAQ: MAR) announced today the signing of agreement with Inmobiliaria Turistica de Mazatlan to bring Marriott International's rapidly growing Courtyard brand to Mazatlán, Sinaloa, Mexico. Construction of the 200-room Courtyard property is set to begin in late 2016 and it is expected to open in 2019. The hotel is owned by Inmobiliaria Turistica de Mazatlan, S.A. and managed by Marriott International. Once completed, Courtyard Mazatlán will be poised to attract business travelers by offering a refreshing ambience that helps guests stay connected, productive and balanced while traveling.
Marriott International celebrates the opening of the 133-room Courtyard Hermosillo Hotel, located near the city's most famous attractions, including the beautiful Cerro de la Campana and the Plaza Patio shopping mall. The new Courtyard is a prime business hotel option for visitors to the city as it is centrally located to major players in the automobile industry. It boasts a refreshingly designed lobby area complete with complimentary Wi-Fi and media pods – perfect for conducting business or staying connected to family and friends while on the road.
Perched above crystal-blue Caribbean waters on the edge of the rainforest, a new luxury travel experience will soon come to life. Viceroy Hotel Group (VHG) has announced plans for Viceroy Bocas del Toro Panama, a resort and residences set to open in 2019. The destination will feature 186 modern guest rooms, including 42 overwater villas along 457 acres of coastline — with three miles of private white sand beaches, plus sailing, surfing and hiking adventures just beyond the door.
Hilton Worldwide (NYSE: HLT) continues its expansion in Mexico with the opening of the new Hampton Inn by Hilton Durango. The 125-room hotel, owned and managed by Santurin SA de CV, joins the global brand of Hampton Inn by Hilton, Hampton Inn & Suites by Hilton and Hampton by Hilton hotels.
Hilton Worldwide (NYSE:HLT) announced today the opening of the new 226-room DoubleTree by Hilton Veracruz, conveniently located across from the beach overlooking the harbor, with direct access to the historic center and the most modern shopping, business and entertainment district. This new hotel is the latest addition to the DoubleTree by Hilton brand portfolio, which already has more than 460 DoubleTree by Hilton hotels in 38 countries.
InterContinental Hotels Group (IHG), one of the world's leading hotel companies, and Mexican-based Alkoer announce a joint venture to develop two Staybridge Suites® hotels in the cities of Irapuato and Silao, both in the state of Guanajuato.
InterContinental Hotels Group (IHG®) today announces the opening of the new-build Staybridge Suites San Luis Potosi hotel in Mexico. As the first Staybridge Suites® in the city, the 97-suite property joins IHG's other hotels nearby including Holiday Inn Express San Luis Potosi hotel and Holiday Inn San Luis Potosi-Quijote hotel. This is IHG's sixth Staybridge Suites property in Mexico with other hotels located in Chihuahua, Guadalajara, Monterrey, Puebla and Queretaro.
STR's May 2016 Pipeline Report shows 28,368 rooms in 178 projects Under Contract in the Caribbean/Mexico region. The total represents a 5.8% decrease in rooms Under Contract compared with May 2015 but a 3.0% year-over-year increase in rooms In Construction.Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The region reported 12,616 rooms in 80 projects In Construction for the month.Among the countries in the region, Mexico reported the most rooms In Construction with 7,981 rooms in 58 hotels. The Dominican Republic (1,208 rooms in six hotels) was the only other country to report more than 1,000 rooms In Construction.
Hilton Worldwide (NYSE: HLT) today announced the signing of a franchise license agreement with Free Way Group to build Hampton by Hilton Bariloche, marking the entry of the global mid-priced brand into Argentina. Scheduled to open early Q2 2018, the new property will be located in Argentina's renowned international tourist destination of San Carlos de Bariloche. The project is part of an expansion plan of Free Way Group, which turns its expertise of 50 years in the tourism business in the region, including travel agencies and tour operators, now to the development of an international branded hotel.
Sheraton Hotels & Resorts, part of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), today announced the designation of two exceptional hotels in Latin America, Sheraton Grand Panama and Sheraton Grand Los Cabos, Hacienda Del Mar, welcoming them to the brand's premier tier of hotels recognized for their enticing destinations, distinguished designs, and excellence in service and guest experiences. The two Latin America Sheraton Grand properties join Sheraton Grand Rio Hotel & Resort in Brazil, which earned its designation when Sheraton Grand launched last year, as well as 27 other Sheraton Grand properties around the world. Sheraton Grand is one of many initiatives currently underway for Sheraton 2020, a comprehensive plan designed to solidify Sheraton as a leading global hotel brand of choice, everywhere.
Hyatt announced today the opening of Hyatt Centric Montevideo, the brand's first hotel to open outside of North America, and the second Hyatt-branded property in Uruguay. The 178-room hotel is located in the bustling Pocitos neighborhood, a prime destination for guests to explore and discover the heart of Montevideo. Hyatt Centric Montevideo is in close proximity to many of the area's business and leisure districts, including the World Trade Center, Montevideo Shopping and Ciudad Vieja, as well as La Rambla, the coastal avenue where locals meet daily to exercise, socialize and take in the city's best sunsets.
he 188-room AC Hotel® Guadalajara Mexico and the 175-room AC Hotel® Queretaro Antea, opened its doors, inviting guests to experience Mexico's newest class of lifestyle hotels that cater to the creativity and passions of travelers with a millennial mindset. Both properties are owned and were developed by FibraHotel and are operated by Marriott International.
Proving that global demand for the brand is strong and growing, Red Roof® opened its second international location in Vitoria, Brazil on April 22, 2016. The Red Roof Inn Vitoria offers budget-friendly accommodations to travelers with free Wi-Fi, complimentary continental breakfast buffet (6 –10am) and coffee and tea in the lobby. The 80-room hotel also offers beach access, an on-premise 24-hour restaurant, fitness center, business center, 110-seat conference room, three meeting rooms, bilingual staff (Portuguese & English), and free covered parking with weekly rates.
InterContinental Hotels Group (IHG), one of the world's leading hotel companies, today announces its arrival in Barranquilla, Colombia, with the opening of the newly built 18-floor, 154-room Holiday Inn Express® Barranquilla Buenavistahotel. IHG's first Holiday Inn Express hotel in the city boasts an excellent location, in one of Barranquilla's most exclusive areas, Buenavista. This property is IHG's first in Barranquilla and will be joined later this year by the Crowne Plaza® Barranquilla property.