Puerto Morelos.
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.
MONTREAL – Transat A.T. Inc. announces that it has purchased land, and has entered into a promissory agreement to purchase a second adjacent property, in Puerto Morelos on Mexico's Yucatan Peninsula for a total consideration of between US$54 and $57 million to build a beachfront resort. The promissory agreement is subject to certain usual conditions and is anticipated to close on or around November 1, 2018.
Located on the Riviera Maya, the village of Puerto Morelos is midway between Cancun and Playa del Carmen, some 20 kilometres from Cancun International Airport.
"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.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
