Yucatan, Mexico, attracting domestic hotel investment

The InterContinental Presidente Merida is one of the region's luxury hotels. Photo credit: IHG (InterContinental Presidente Merida)

The Tourism Business Council of Yucatan is predicting an increase in hotel investment and development for the Mexican cities of Mérida, Chichén Itzá and Valladolid.

Council President Jaime Solís Garza said an unnamed group of Mexican investors expects to invest some 800 million pesos ($20 million) in the construction of three hotels, adding the entrepreneurs were attracted by the tourism promotion activities being carried out for the Yucatan as a tourism destination, not only for domestic travelers but internationally as well.

"We believe that these could be the first fruits of the promotion that is being carried out...from Yucatan to the world," Solís Garza said, acknowledging investments seem "uncertain" in the current economic climate. This group of investors, he said, seems to have a "firm intention" of establishing itself in the region.

Solís Garza said his group is looking to expand a wide range of tourism segments, including conventions, cruises and luxury/wedding travel. All of these segments can help support the region's overall economy, he noted.