Choice Hotels moves to grow footprint in lucrative Mexican hospitality market
Fueled by some of the most beautiful beaches in the world and an always robust number of tourists coming from the United States, the Mexican hospitality market continues to thrive
Choice Hotels International’s subsidiary Choice Hotels Mexico has, in fact, signed an exclusive multi unit agreement the private Mexican equity fund SI Operaciones, which will see it developing 20 new-build Sleep Inn hotels in the country over the next five years.
These 20 new Sleep Inn hotels mark the first wave of an agreement that will see the addition of 2,000 rooms in top markets throughout Mexico, ranging from the country’s second city Guadalajara to the culinary and cultural capital Mexico City. The end result will be a footprint for Choice Hotels Mexico that is ultimately more than triple the size of what it is today.
What Stakeholders Are Saying About This
Obviously, the stakeholders involved with this expansion effort have much to say about its potential.
“At Choice Hotels, international expansion and multi-unit development are key pillars of our growth strategy. We are actively seeking new opportunities to increase our presence in strategic markets and our agreement with SI Operaciones will allow us to do just that,” said Mark Pearce, senior vice president, international division, Choice Hotels. “Choice Hotels is well poised for major growth in Latin America, and we look forward to building upon our relationship to bring the Sleep Inn brand to more guests worldwide.”
SI Operaciones currently owns and operates five Sleep Inn hotels throughout Mexico with locations in Culiacan, Mazatlan, Hermosillo, Tijuana and Mexicali. The company’s sixth Sleep Inn is already under construction in Queretaro and slated to open in late 2019.
“There is tremendous opportunity for hotel development in Mexico and we are thrilled to continue our collaboration with Choice Hotels to grow our portfolio,” said Mario Cordova, chairman of the Board of SI Operaciones. “We’ve experienced great success with the Sleep Inn brand and know these new hotels will be a welcome addition for business and leisure travelers.”
Sleep Inn and Choice Hotels in Mexico
The Sleep Inn prototype, introduced in Mexico in 2014, is designed to exceed the expectations of business travelers seeking midscale accommodations. Spacious and modern guest rooms, free W-Fi, complimentary hot breakfast, fitness centers, and always-in-style design aesthetics throughout the hotel make the Sleep Inn brand a winner in its competitive set.
Choice Hotels first entered the Mexican market in 2004 and currently has 32 hotels in 25 cities across the country, with more than 3,500 rooms available to guests under the Comfort, Quality Inn, and Sleep Inn brands.
Mexico has long been a desirable market for hoteliers, given its proximity to tourists from the United States and its depth of beautiful landscapes and cultural experiences. Industry experts have often said that the market is expected to continue thriving in the years to come. It stands to reason that Choice Hotels will not be the only company looking to make inroads into the country soon.
Let’s take a look at a few other projects currently underway by Choice Hotels International Inc.:
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