Grupo Posadas, S.A.B. de C.V., Mexico’s largest hotel operator with over 130 hotels, and private equity firm Bighorn Capital, Inc., have signed an agreement that will introduce its premier luxury boutique hotel brand, Live Aqua, to major U.S. cities.
As a part of the agreement, Bighorn Capital will invest $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.
Début 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 U.S. 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-story high-rise in the West Loop area, and to dual-brand the development with the Live Aqua and Dream Hotels brands.
“We are very excited to introduce the American consumer and international tourists to Live Aqua, our luxury brand with a unique Latin style known for warm, attentive service,” says Javier Barrera, Vice President of Posadas. “Through our partnership with Bighorn Capital and Début Hotel Group, both of whom have a deep understanding of the innate characteristics of success in the U.S. market, we believe we can establish a lasting and important lifestyle brand in the U.S.”
This will be the first international expansion for Posadas, a leader in the Mexican hospitality industry. Live Aqua Hotels and Resorts was voted best resort in Mexico 2013 by Travel & Leisure, gained accolades in Conde Nast 2014 Hotlist, and won honors from Trip Advisor Traveler’s Choice Awards.
“Live Aqua promises to bring to the U.S. hospitality market a new concept experience found in Posadas’ Mexican properties,” said Rob Entler, CEO of Bighorn Capital. “Posadas has developed an elegant hotel and resort concept which we believe has enormous potential in gateway cities throughout the country.”
“We are proud to partner with Posadas and Bighorn to help bring the Live Aqua Hotels brand to life throughout the U.S.,” said Eric Danziger, president and CEO of Début Hotel Group and Hampshire Hotels Management. “We have successfully managed upscale lifestyle properties for over 30 years, and we look forward to leveraging our expertise to maintain the distinctive and exclusive experience that Posadas pioneered with the Live Aqua brand in the Mexican market.”