As part of a large-scale expansion into U.S. markets with large Hispanic populations, Mexican hotel chain Grupo Posadas announced plans for a mammoth, 82-story West Loop tower late last week. While a company spokesman hasn't revealed the exact location of the Chicago expansion, according to Crain's, they did indicate they'll be partnering with Las Vegas-based Bighorn Capital on five locations, including Los Angeles, Miami, Houston and Washington. If the announcement feels sudden, that may be because the chain is in a hurry; they hope to finish by 2017 and start breaking ground this summer. The tower will be shared with another hotel by New York-based chain Dream Hotels, adding even more options to the city's already booming hotel market. As Chicago Architecture Blog points out, that timeline seems to be defying the laws of Chicago construction and development.
Grupo Posadas currently operates 136 hotels in Mexico under an array of different brands. Only two locations in Cancun and Mexico City operate as Live Aqua properties. According to the Wall Street Journal article that broke the news, the northward expansion of this chain, considered 5-star in Mexico, underlines the growing clout and spending power of Hispanic consumers. It remains to be seen if the company will be able to find space and get all the required paperwork in order for such a lightning-quick turnaround.
· A Tour Through the New Chicago Athletic Association Hotel, Now Open Today [Chicago Curbed]
· Mapping Chicago's Hotel Boom: Openings in 2014 and Beyond [Curbed Chicago]
· Chicago Hotel Boom coverage [Curbed Chicago]
· Complete West Loop archives [Curbed Chicago]