Grupo Posadas, Mexico’s largest hotel operator with over 130 hotels, and private equity firm Bighorn Capital sign an agreement that will introduce its premier luxury boutique hotel brand, Live Aqua, to major US cities.
As a part of the agreement, Bighorn Capital will invest US$450 million to develop an initial five hotels, branded Live Aqua, in the metropolitan areas of Chicago, Los Angeles, Miami, Houston and Washington, D.C.
These cities have large Hispanic populations and attract substantial Latin American and international tourists who will provide a strong foundation of guests that have an affinity for the Live Aqua brand concept and sophisticated luxury services.
D?but Hotel Group, a Hampshire Hotels Management company and owner and operator of successful hotel brands including Dream Hotels, Night Hotels and Time Hotels, will manage the Live Aqua US hotels.
Each hotel is expected to comprise an average of 250 to 300 units. The concept for Chicago, targeted for completion in 2017, is to build an 82-storey high-rise in the West Loop area and to dual-brand the development with the Live Aqua and Dream Hotels brands.