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Millions invested in 3 new Yucatan hotel projects

Entrepreneurs betting on Merida, Chichen Itza and Valladolid

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Merida’s hotel zone was transformed in 2017 when the new International Convention Center was under construction. Photo: File

Mexican hotel investors are pouring 800 million pesos, or roughly US$20 million, into Merida, Chichen Itza and Valladolid.

Jaime Solis Garza, president of the Tourism Business Council of Yucatan, announced that the money is going toward the construction of three new hotels in the three areas.

He said that these large investments will allow these smaller destinations better compete with Cancun, their much larger neighbor on the Caribbean coast.

Merida, Chichen Itza and Valladolid are best known for historical sites, architecture, artisans, and a localized vibe, notes TravelPulse, one of the media outlets that first reported the announcement.

Solis explained how the tourism sector can bring more security to an area which can be both beneficial to tourists and locals.

“Tourism is an activity especially susceptible to any action that causes insecurity and fear. We currently have a destination that enjoys high prestige in many aspects, of which safety stands out, this is largely due to the success of the strategies implemented in this sector,” Solis said.

The investors were not identified, and no specific hotel project was mentioned in the announcement.

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