Presenting a $1,000 million dollar hotel megaproject for Cancun; 4T will finance it

Presenting a $1,000 million dollar hotel megaproject for Cancun; 4T will finance it

Presenting a $1,000 million dollar hotel megaproject for Cancun; 4T will finance it

Bancomext and two foreign banks will finance the $1,000 million dollars required by Grand Island Cancun, a 3,000-room project.

“In the morning conference of President Andrés Manuel López Obrador, the company Murano, by Elías, Marcos and Harry Sacal, presented the Grand Island Cancun project, which will receive one of the largest hotel investments in the last 30 years .”

It is a complex of 3,000 rooms in the hotel zone of Cancun, with an investment of 1,000 million dollars in two phases that will begin operations in 2022 and 2024, financed by Bancomext and two foreign banks.

Marcos Sacal, CEO of Murano, said that a creation of 7,500 direct jobs is estimated during construction and another 12,000 jobs to reach a total of 20,000 jobs.

The project also includes a convention center, which will be the largest in Cancun, scheduled to open in 2022 with an available space of 10,000 square meters.

Fhoto: Murano

Regarding this topic, the federal secretary of Tourism, Miguel Torruco Marqués, said that the plan is a sign of the confidence investors have in the country.

On the other hand, the clerk said that during this year tourism in the country has grown. From January to August 2019, he said, 29.8 million international tourists arrived in the country, 7.6% more than in 2018, with expenses of 17.150 million dollars, 12.3% more than the previous year.

He explained that the average expenses of international tourists was 525.8 dollars, 5.5% more than in 2018, giving a positive balance of 10.694 million dollars in the tourism balance, 34.7% more than a year earlier.

In terms of employment expectations for the end of the third quarter of this year, there are 4 million 326,000 jobs, that is, 4.4% more than in 2018, since so far this year, 181,000 more jobs have been generated in tourism.

On the other hand, the expectations of foreign direct investments in tourism is 624 million dollars, 3.0% more than the total investments in the country, of which 25% corresponds to hotel investments.

By the end of October 2019, 43 million 300,000 international tourists are expected, 4.7% more than in 2018, 24.4 billion dollars in international visitor spending, that is, 12.13% higher than a year earlier.


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