HOTEL Signs Management Contract for 142-Room DoubleTree by Hilton Toluca in Mexico
Grupo Hotelero Santa Fe, S.A.B. Of C.V. (BMV: HOTEL) ("HOTEL" or "the Company"), one of the leading companies in the hotel industry in Mexico, announces the signing of a Management Contract for a 4-star hotel, the DoubleTree by Hilton Toluca with 142 rooms located in the industrial part of Toluca, Estado de Mexico. The hotel which is owned by a third party, is located on the Boulevard Industria Minera Avenue, very close to the General Motors, FCA, Coca-Cola FEMSA and Heineken plants. The hotel is in its final stages of construction and due to open by November 2018.
This Management Contract is in line with the Company's expansion plan which contemplates growth in the urban hotel segment, with third party brands at strategically located hotels and contemplates third-party brands. With the inclusion of this hotel, the Company's portfolio will reach 27 hotels with 6,632 rooms and presence in 18 cities in Mexico, including the hotels currently in construction or expansion. The Company will continue seeking and analyzing investment opportunities in hotels and properties for acquisition, change of use, development and third-party hotel Management Contracts as an ordinary course of business.
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