The new luxury project will include a hotel and residences and will generate 700 permanent jobs.
The post The Ritz-Carlton brand returns to Cancún with a US $400M project appeared first on Mexico News Daily
The Ritz-Carlton Hotel Company has formalized a US $400 million investment that will see the luxury hotel chain return to Cancún after a two-year absence.
The multinational hotel company, a subsidiary of Marriott International, announced on Thursday that it has signed an agreement with investors FibraHotel and Fibra Danhos as well as venture capital fund Beyond Ventures to create a new property in the popular Caribbean beach resort.
The hotel will be located in the Punta Nizuc area of Cancún. (Andrés Medina/Unsplash)
The project will include both hotel and residential suites in Punta Nizuc, an exclusive area in southern Cancún, located on the Nichupté Lagoon. According to news outlet Riviera Maya News, construction on the project is already well underway.
Quintana Roo Governor Mara Lezama lauded the good news at the press conference announcing the investment, alongside executives from the development companies and Bryan King, the president of Marriott International Latin America.
In a post to her X account, Lezama said the investment reaffirms Cancún’s leadership in attracting investors and reflects investor confidence in Quintana Roo as a tourist destination. The governor also announced the project will generate more than 2,000 direct jobs, with 700 of them permanent, “improving the well-being of thousands of families in the region.”
In a joint press statement, the development partners said that “whether for a vacation or as a second home, The Ritz-Carlton, Cancún, Punta Nizuc will redefine luxury living and hospitality in the region.”
Aiming to “shape the future of luxury hospitality and residential experiences in Cancún,” the developers said the project will feature a 131-room luxury hotel as well as 126 branded residences to be located in a LEED-certified building.
The developers told reporters they are targeting a 2027 inauguration, adding that the project will include an ocean-front pool complex, a spa, six gourmet restaurants and residential amenities, all serviced by The Ritz-Carlton.
“As one of the most important tourist destinations in Mexico and Latin America, Cancún and the Riviera Maya attract nearly 30 million visitors each year, drawn by stunning beaches, vibrant nightlife, and rich cultural experiences,” said Bryan King in the press release.
“While this property is conveniently located 10 minutes from the airport, it feels a world away.”
With reports from El Economista and Riviera Maya News
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