Posted 5/3/2012 - 7:35:47 AM
MEXICO CITY, MEXICO—Hyatt Hotels Corp. has agreed to purchase the 756-room Hotel Nikko Mexico here for $190 million.
Hyatt acquired the property from the Japan-Mexico Hotel Investment Co., Ltd., and plans to rebrand the property as the Hyatt Regency Mexico City.
The deal is scheduled to close this month.
Hyatt plans to combine some guestrooms in the hotel into suites. The number of keys, therefore, will go from 756 to 734.
Hyatt also plans to invest an additional $40 million in a three-year renovation intended to strengthen the hotel's competitive position.