Hyatt Adds in Mexico

Hyatt Hotels has agreed to acquire the Hotel Nikko Mexico in Mexico City for $190m from Japan-Mexico Hotel Investment. The deal for the 38-story luxury hotel is scheduled to close in May, and the property will be rebranded as the Hyatt Regency Mexico City. Hyatt plans to invest about $40m in a 3-year renovation for the Polanco hotel, to be Hyatt’s fourth in Mexico.