Transat Buys Land In Puerto Morelos, Mexico For Beachfront Resort
Bruce Parkinson, Open Jaw
Transat A.T. Inc. has announced the purchase of land in Puerto Morelos on Mexico’s Yucatán Peninsula, where it intends to build its first beachfront resort.
Transat will pay between US$54 and $57 million for the land, along with a promissory agreement to purchase a second adjacent property.
Located on the Riviera Maya, the village of Puerto Morelos is midway between Cancún and Playa del Carmen, some 20 kilometres from CUN.
“We are very pleased with these transactions in a prominent Mexican tourism market,” said Transat President and Chief Executive Officer Jean-Marc Eustache.
“This is just the beginning: we are continuing our exploratory work with the objective of finding attractive land or hotels that we can acquire or manage. Our company’s future growth will be built on hotel development and, obviously, the strength of our leisure travel business.”
This is Transat’s first step toward its previously announced goal of having 5,000 owned or managed hotel rooms at its main Sun destinations by 2024.
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.