Mexican hotel company Grupo Posadas and private equity firm
Bighorn Capital plan to introduce Grupo’s Live Aqua luxury brand in five U.S.
As part of the agreement, Bighorn Capital will invest $450
million to develop hotels in Chicago, Los Angeles, Miami, Houston and
Each hotel will have between 250 and 300 guestrooms. The
Chicago hotel, targeted for completion in 2017, will operate in an 82-story high-rise
in the West Loop area.
Debut Hotel Group, a Hampshire Hotels Management company,
will operate the hotels.
There currently are two Live Aqua properties, in Cancun and
Grupo Posadas is the largest hotel operator in Mexico with
136 hotels and more than 21,000 rooms in beach and city destinations. Its brands
are Live Aqua, Grand Fiesta Americana, Fiesta Americana, Fiesta Inn, Gamma, One
and the Explorean by Fiesta Americana.