EconomyFinancialThis French company bets on Mexico by creating a...

This French company bets on Mexico by creating a new hotel for business travelers

The Accor hotel chain is preparing a new opening in Insurgentes, south of Mexico City, with a view to recovering one of the last links in tourism in the short term: that of tourism trips, meetings and conventions.

With Novotel Mexico City World Trade Center , the French operator has one of its largest openings of the year in a challenging market, which remains depressed due to the effects of the covid-19 pandemic on demand, which marked a watershed particularly in tourism of businesses, which faces a reconfiguration of the market due to the rise of platforms such as Zoom and Teams.

“We are very satisfied with the project. It is a 22-story hotel, with an excellent location in Insurgentes, where everything that has to happen in Mexico City happens,” explains Javier López, the company’s vice president of operations. “It is in front of the World Trade Center , on a lot nine square meters wide, which at the time of construction represented a number of technical challenges.”

The complex was projected to open last year, but the pandemic delayed its construction by eight months, so its new opening date is August 15.

With 106 rooms divided into four categories (double bedroom, king bedroom, queen bedroom and suites), the complex plans to start with dynamic rates that will range between 1,800 and 2,500 pesos per night, and that will be adjusted based on seasonality, particularly according to the events that take place in the World Trade Center and the Pepsi Center WTC , a venue located next to it where several concerts take place.

This will be the fourth complex in Mexico of the Novotel brand, one of the nine that make up the Accor portfolio in the country, which also operates in Santa Fe, in Mexico City; Toreo, in the State of Mexico, and in San Pedro Garza García, in Monterrey.

Accor expects the new hotel to be part of an occupancy trend that started the year at around 40%, climbing to a threshold of 50% to 55% by 2023. In Mexico City, average hotel occupancy closed June at 56.7%, according to data from the Ministry of Tourism (Sectur).

“We are very optimistic. There are confirmed events, the event calendar of various forums is returning, convention centers are becoming active and companies are showing significant interest in travel”, assures the manager.

In the short term, the hotel chain is also preparing the introduction of a 150-room Hyde complex in Mazatlán signed at the end of 2020, oriented to the life and style segment. In addition, the opening of a So hotel – one of the most exclusive in its portfolio – in Los Cabos, signed at the end of 2018, is still pending.

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