Mexico national bank lends for Riviera Maya development

Already more than 2,000 new hotel rooms whave been added to Mexico's Riviera Maya region in 2015 and, now, The Bank of National Foreign Trade is currently signing more loans to ensure funding for more and new development in the region, according to Riviera Maya News.

Finance director of Tourism Investment Projects of the National Foreign Trade Bank (Bancomext), Gerardo Gonzalez Corona, told the Riviera News that the area is one of the most important growth opportunities for tourist attractions, "so funding is set aside to strengthen and increase its hotel infrastructure."

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

"We have roughly 40 percent of our portfolio here."

He said the policies of the federation is that the bank’s resources are for providing entrepreneurs with the intention to create jobs, resources and regional and state development, across the coastline of Quintana Roo, including Cozumel.

Projectors for the region are hoping that if growth and development continue, that by 2017, there will be an additional 4,000 new accommodation rooms in the state of Quintana Roo.

Suggested Articles

The latest report from STR shows negative year-over-year results in the three key performance metrics during the week of July 7-13.

Ritesh Agarwal, the company's 25-year-old founder and CEO, has signed a $2 billion primary and secondary management investment round.

By year's end, the Turkish hotel company will have five properties along the Red Sea and Mediterranean.