Quintana Roo attracts investment for luxury hotel and residential development

The hotel sector was one of the most affected during the Covid-19 pandemic, because with the implementation of health restrictions, many travelers changed their consumption habits, leaning towards home rental o vacation apartments. At this juncture, RLH Properties has decided to invest in this market and exhaust its residential inventories in the Mayan Riviera.

According to Borja Escalada, CEO of the firm of hotel assets y luxury residencesSince the beginning of the health crisis, the company has invested around 100 million dollars in the Mayakoba complex, located in Quintana Roo. For the following two years, an additional cost of 60 million dollars is projected.

In an interview with the media, the businessman explained that the resources will be allocated not only to remodeling and expansion works of the four Hotels located within the resort, the expansion of the luxury housing business is also contemplated.

At the end of September of this year, the total income of RLH Properties amounted to 1,649 million dollars, of which 188.7 million (11%) were generated by the sale of residences.

Likewise, in the same reference month, the company reported a total inventory of 279 units of this class in the Riviera Maya and only 33% is available.

“We are going to accelerate the construction of everything that remains in the available inventory to favor and meet this demand. Over the next two years we are going to invest close to 60 million dollars, just in Mayakoba”, assured Borja Escalada.

He also explained that foreigners are the main consumers of this type of property developed in Quintana Rooand is that, this market represents 73.4% of tourists in the state, according to figures from the Ministry of Tourism.

Riviera Nayarit breaks record in residential sales

Despite success in the vacation home segment, RLH Properties’ revenue distribution still leans more toward the hotel segment; however, the main objective of the firm is to increase hotel assets and complement with housing developments.

“Our residential business has exceeded expectations, showing extraordinary results and ensuring our position in the market. During the third quarter of 2022, the sale of two residences at Rosewood Residences Mayakoba and nine units at Fairmont Heritage Place Mayakoba was completed,” the manager said.

It is worth mentioning that the Mexican peninsula is not the only attractive destination for the company, since in the Riviera Nayarit It has also found a relevant niche, where the One and Only Mandarina complex recently managed to place a residence for 17.5 million dollars, surpassing the sales price record in the region.

The Rosewood Mandarina hotel is also under construction in this same place, planned with 120 rooms y 63 residenceswhose delivery is expected at the end of 2024.