Hyatt has confirmed its purchase of the Nikko in Mexico City for $190 million. After investing another $40 million to refurbish and make it a Hyatt Regency, Mark Hoplamazian, boss of the chain, says the company might sell the former Nikko but continue operating it under an administrative contract. Not to be left behind, Marriott says it plans to open five new “complexes” in Mexico this year giving it a total of 23 in the country. Even bigger plans were announced by InterContinental, which, in addition to a Presidente in the Santa Fe area will be opening 36 hotels (Holiday Inn, Holiday Inn Express, Indigo, etc.) during the next few years.
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Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers
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