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By Will Feuer
Hyatt Hotels Corp. said it is building a new resort in Quintana Roo, Mexico as part of the hotel chain’s broader push to grow its luxury resort offerings in popular destinations across Latin America.
The 500-room luxury Grand Hyatt Cancún Beach Resort is expected to open in 2024 ahead of the summer season. Hyatt said the hotel will meet growing leisure travel demand in Latin America.
The resort will be located within Puerto Cancún, a residential resort community that includes a full-service marina, golf course, time-share, a shopping mall and more.
Hyatt’s senior vice president of development for Latin America and the Caribbean Camilo Bolaños said the resort “will be a critical piece of our strategy to grow Hyatt’s luxury resort presence in key leisure destinations.”
Hyatt is partnering with ownership group Diestra Realty S.A. de C.V. on the new-build hotel. Hyatt has 18 other branded hotels in Cancún, the company said.
Hyatt has been expanding aggressively in the luxury resort space since its 2021 acquisition of Apple Leisure Group from private-equity firms KKR & Co. Inc. and KSL Capital Partners LLC for $2.7 billion in cash.
Write to Will Feuer at Will.Feuer@wsj.com
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