The number of new property development announcements in Mexico’s most popular destinations continues to rise as tourism hits an all-time high. For example, Travel Weekly reports that Marriott is planning to open at least 20 new Mexico properties and Starwood Hotels & Resorts is working to expand its Mexico footprint by at least 30 percent - both by 2016. In addition, AMResorts, the hotel division of Apple Leisure Group,intends to invest in six new resorts in Mexico by Oct. 2015, while STR Global predicts that the Caribbean-Mexico region alone will debut at least 58 new hotels in 2015, and reports that from January through August of this year the region saw a total of 96 new hotels.
“Mexico is one of the largest, most important and dynamic international markets for our company,” stated Craig Smith, president of the Caribbean and Latin America for Marriott International.
Here is a glimpse of the new hotels and resorts that will be opening soon in Mexico:
The Royalton Riviera Cancun Resort and Spa is scheduled to open Jan. 3 2015 and is a newly built all-inclusive resort complex. The resort will feature 1,183 suites and a slew of amenities, including free WiFi throughout the property, unlimited reservation-free dining in 10 restaurants, 24-hour room service and unlimited calling to North America and most of Europe. Other on-site amenities include: A sports bar, splash park, Kids Club for children ages 4-12, Teen Lounge for ages 13-17, a convention center, 16 bars/lounges, an ice cream parlor, a hydrotherapy circuit and a spa.
Inside Tip From Investment Properties Mexico: Check out the free Royalton mobile app, which offers unlimited free texting and an unlimited free calling plan that can be used from mobile devices while on the resort property.
For more information, visit www.royaltonresorts.com.
Playa del Carmen
Hyatt plans to open a new hotel in Playa del Carmen, Mexico, by spring of 2015 on Playa’s famed La Quinta Avenida, or Fifth Avenue, which is located just moments from the turquoise waters of the Mexican Caribbean and surrounded by the energy, excitement and upscale bohemian vibe of this fascinating city. Boasting a unique urban beach vibe, the hotel will not be all-inclusive, but two restaurants and three lounges are located in the property’s Paseo, a large, open-air corridor that connects the entrance to Playa Mamitas beach.
For more information, visit www.playadelcarmen.hyatthotels.hyatt.com.
Starwood Hotels & Resorts is scheduled to open its first W-branded resort in the region, the W Retreat Kanai Riviera Maya,by July 1, 2015, followed by the St. Regis Kanai Resort, opening by December 1, 2016. Both located within the Kanai resort destination,The W Retreat Kanai will offer 180 rooms with stunning ocean views,while the St. Regis Kanai will bring the brand’s very own bespoke style of luxury to the resort complex.
“Mexico will continue to be a focal point of our expansion strategy in Latin America,” stated Osvaldo Librizzi, co-president of Starwood Hotels & Resorts Americas.
For more information, visit www.starwoodhotels.com.
Puerto Vallarta is also in the midst of a hotel boom, with more than 7,400 rooms added since 2011, according to the Convention and Visitor’s Bureau. The 125-room Hotel One and the 115-room Holiday Inn Express are two of the more recent additions,and both are conveniently located in the city’s popular Marina Zone. AMResorts has also announced plans to invest in at least one new resort in Puerto Vallarta by Oct. 2015.
“The destination offers more than 22,000 rooms in properties that include villas, boutiques, inns, guesthouses and four-and five-star properties spanning numerous brands,” writes Travel Weekly.
Cabo San Lucas
A striking new 300-room JW Marriott hotel is coming to Cabo San Lucas by May of 2015. Named one of the world’s Top New Hotels by the Melbourne Herald Sun, it was the only new destination in Mexico to make the list.
“Spread over almost 6ha of land overlooking the Sea of Cortez,with 240m of beachfront,it features fine dining restaurants,a bar and grill, pool bar, pool, spa, an indigenous temazcal sweat lodge, Jacuzzis, tennis courts and a fitness centre,” writes the Herald Sun. “It is close to the international airport and 18-hold golf courses designed by Greg Norman and Jack Nicklaus.”
“We will be facilitating tourism investment and creating local jobs,” stated Deputy Manlio Fabio Beltrones of the Institutional Revolutionary Party (PRI). “Faced with a constitutional restriction that had historical significance but has become obsolete, we propose to authorize foreign acquisition of properties in the country’s coastlines.”
Upon passing, the bill will permit foreign buyers to bypass the “red tape” that is created by the current fideicomiso system, which is outlined in Article 27 of the constitution and prohibits direct ownership of land by foreigners within 50 kilometers (31 miles) of the coast and 100 kilometers (62 miles) of the border. The bill will change all of this, permitting foreign buyers to purchase real estate directly in oceanfront areas for residential use.
Originally, the restrictions were set in place to prevent invasion – a sentiment that is no longer of real concern in modern times. Dubbed obsolete in today’s world, the old law is serving as more of a hindrance than a protective measure, since giving added legal certainty to foreign property ownership rights will financially benefit the local governments and people of coastal and border towns. When the new bill becomes law,it will also mean additional tax revenues for the areas in question.
“There is no reason to allow foreign ownership within the national territory and not on the beaches,which also generate development opportunities,” stated Beltrones.
According to the Wall Street Journal, Mexico real estate developers and local government officials are backing the new bill to remove the restrictions, citing the success of landlocked towns such as San Miguel de Allende, which is very popular among expats and has developed a strong local economy to prove it.
“Lawmakers note that, in areas where the fideicomisos aren’t required, including the central Mexican town of San Miguel de Allende, the economy is thriving thanks to retiring Americans, Canadians and other foreigners,” writes the Wall Street Journal.
Although it is completely legal and buyers’ rights are protected by the law, the fideicomiso process is inherently more complicated than buying direct from developers and real estate professionals will be. By removing these outdated restrictions, the new bill is expected to bring an added burst of new activity to Mexico’s already strong real estate sector.
The measure was approved last Tuesday, Oct. 14 in the House Chamber of Deputies, following an overwhelming majority vote of 356 in favor and 119 against, but the bill still needs approval from the Senate and state legislatures before it officially becomes law… So stay tuned!
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