FibraHotel, the first real estate investment trust specialized in urban business-class hotels in Mexico, and Starwood Hotels & Resorts Worldwide, Inc. announced the sale of the Sheraton® Ambassador Monterrey hotel to FibraHotel, adding 229 rooms to FibraHotel’s portfolio.
The transaction will represent a total investment of US$13.5 million by FibraHotel, including a comprehensive property renovation over the next two years. The hotel will be operated by Starwood through a long-term management agreement.
Sheraton Ambassador Hotel is ideally located at Ave. Hidalgo 310 Oriente in the heart of downtown Monterrey – one of Mexico’s largest cities and an important industrial and global business hub. The hotel currently features 229 guest rooms, over 13,000 square feet of meeting space, full-service dining at Los Vitrales Restaurant, a lobby bar, a health club, an outdoor pool and tennis court, and a Sheraton Club Lounge. The hotel is walking distance to the restaurants, shops and museums of historic downtown Monterrey and just 30 minutes from Monterrey International Airport (MTY).
Mexico is Starwood’s largest market in Latin America and continues to lead the company’s growth in the region. The agreement with FibraHotel will allow Starwood to grow with a recognized hotel owner and add to its already strong operating portfolio of 28 hotels in Mexico, with six more under development, across eight of its nine world-class brands including Sheraton, Westin, Le Méridien, St. Regis, The Luxury Collection, W Hotels, Aloft and Four Points by Sheraton.