On behalf of Host Hotels & Resorts and Marriott International, JLL Hotels & Hospitality arranged the sale of the JW Marriott Mexico City, located in Mexico City’s Polanco district. An affiliate of Walton Street Capital purchased the hotel.
The hotel changed hands for $183 million, or $587,000 per key, James F. Risoleo, president, CEO and director of Host Hotels & Resorts said during the company's Q3 earnings call earlier this year. “We held a 52 percent interest in the hotel in a joint venture with Marriott International.”
Managing director Gregory Rumpel and SVP Carolina Lacerda led the JLL team on the transaction.
“Mexico’s lodging market is increasingly more liquid and continues to attract institutional capital. The JW Marriott Mexico City exemplifies what investors want: a high-quality and strong-performing asset,” Lacerda said in a statement. “Demand continues to grow and the property’s location in Polanco, Mexico City’s premier commercial district, remains one of the most sought-after submarkets.”
The JW Marriott Mexico City consists of 312 guestrooms, including 44 suites. Amenities include more than 9,000 square feet of meeting space, three food-and-beverage outlets, an indoor and outdoor swimming pool and a health club. Marriott International will continue to manage the hotel on behalf of the new owner.