BLACK CREEK MEXICO COMPLETES ACQUISITION OF THE WESTIN RESORT & SPA, PUERTO VALLARTA

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MEXICO CITY, Aug. 3, 2022 /PRNewswire/ -- Black Creek Mexico ("BCM") is pleased to announce that Grupo Alojica has completed the acquisition of the Westin Resort & Spa, Puerto Vallarta from affiliates of Marriott Vacations Worldwide. The 280-room beachfront resort, located in Puerto Vallarta, Jalisco, Mexico, is managed by Marriott International under its Westin Hotels & Resorts brand. BCM plans for the property to undergo a transformational capital improvement plan that includes a comprehensive renovation of all guestrooms and public areas, a reimagination of the food and beverage offerings, and the enhancement of the hotel's pool, spa, fitness and other recreational amenities.

"This value-add investment is part of our strategy to aggregate a large-scale portfolio of institutional-quality resorts throughout Mexico's primary tourism markets", said Oriol Gimenez, co-head of BCM's lodging investment platform. "Mexico is a world-class tourism destination, and we are excited to acquire this iconic property in one of Mexico's largest and fastest growing hotel markets.  We look forward to executing our business plan to substantially enhance the guest experience and asset manage the property to maximize value".

Nestled in the vibrant town of Puerto Vallarta and overlooking the scenic Bay of Banderas, The Westin Resort & Spa, Puerto Vallarta features 280 guestrooms and suites, 6 restaurants and bars as well as 23,000 square feet of meeting space. Designed by renowned architect Javier Sordo Madaleno over 14 acres and accented by more than 600 sculptural palm trees, the hotel is located in the exclusive Marina Vallarta area and situated only a few minutes away from the Puerto Vallarta International Airport and downtown Puerto Vallarta with its robust artistic, culinary and entertainment offerings.

Black Creek Mexico is a leading private real estate investment management firm specializing in Mexican markets. Since 1996, BCM affiliated investment platforms have developed, acquired and operated more than 175 of industrial, retail, residential, and multifamily properties in Mexico, representing in excess of $3 billion of aggregate transaction value. The firm seeks to generate attractive risk-adjusted returns for its investment partners through investments in scalable, secular strategies. With offices in Denver, Colorado and Mexico City, BCM operates through a vertically-integrated business model, combining direct local execution capabilities with an institutional investment management platform. BCM is actively seeking institutional investment opportunities in lodging properties throughout Mexico's major resort markets. 

Contact

Black Creek Mexico
Alain Marcus, Managing Director
[email protected] 

SOURCE Black Creek Mexico