Affiliates of Alojica, a Black Creek Mexico-sponsored investment platform, in partnership with Royalton Hotels & Resorts have completed the acquisition of The Westin Resort & Spa, Cancun from affiliates of Marriott Vacations Worldwide. The resort will undergo a capital improvement plan to convert the property into an All-Inclusive by Marriott Bonvoy resort under its Westin Hotels & Resorts brand.
"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", Eduardo Ahumada, senior vice president of Alojica, said in a statement. "We have tremendous conviction on the continued institutionalization and growth of high-end all-inclusive resorts in Mexico, particularly in Cancun which is the #1 international destination for U.S. travelers in the world. "
"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," said Daniel Díaz, EVP of Royalton Hotels & Resorts. "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."