Hyatt completes $190 million buy of Nikko Mexico
Chicago-based Hyatt Hotels Corp has completed its buy of the Hotel Nikko Mexico from Japan-Mexico Hotel Investment Co. for $190 million.
The property, which will be rebranded as Hyatt Regency Mexico City, is one of 20 properties the company will have open in Latin America by 2016.
The firm plans to spend $40 million to renovate the local hotel, and will spend much more on 12 more new hotels in Mexico, Costa Rica, Brazil, Panama, Colombia and Chile.
Source: Globe St.