Mexico hoteliers are making a major bet on the country's tourism boom.
According to a report in El Financiero, 352 new hotel properties will open by 2022. The CBRE Hospitality Mexico study shows major growth in the hospitality industry.
City Express Hotels leads the way with the most growth. The company plans to add around 80 new accommodation units to its portfolio.
"City Express Hotels, whose focus is business travelers in the economic segment, is the one that shows the greatest growth in the number of hotels in the short term," said CBRE's analysis.
By the end of 2019, the hotel chain will open its 152nd property, adding up to 17,000 guestrooms to its portfolio.
AMResorts follows City Express, adding an expected 66 hotels. Grupo Posadas has plans for 48 new properties.
While these are forecasted numbers, hospitality leaders are on the lookout for changes in tourism projections, policy and the promotion of the country around the world. Changes to plans for the airport in Mexico City as well as the elimination of the Mexico Tourism Promotion Council could have an effect on the construction of these planned properties.
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