The American luxury hotel market is set to expand in a big way. Grupo Posadas, one of the largest and most prestigious hotel operators in Mexico, is attempting to bring its Live Aqua brand of high-end luxury hotels to Los Angeles and other diverse markets across the country.
In an agreement with Las Vegas’ Bighorn Capital, Grupo Posadas will use a $450 million investment to develop Live Aqua properties in Los Angeles, Chicago, Miami, Houston and Washington D.C. The expansion marks the hotel group’s first international expansion.
According to Grupo Posadas, the five markets were chosen for hotels due to their large Hispanic populations. The hotel group wishes to attract wealth Latin America travelers to their hotels.