Playa Hotels & Resorts Buys Cancun Property for $38 Million

Playa Hotels & Resorts, the company formed earlier this year by Spain-based Grupo Barceló, acquired the 332-room Barceló Tucancun Beach Hotel from Highland Hospitality Corp. for $38 million.

The Cancun property had been severely damaged by Hurricane Wilma and reopened in April after a multimillion-dollar repair project.

Playa Hotels said it plans additional renovations and improvements to the hotel´s rooms and 16 beachside villas.

The Barceló Tucancun will retain its management and branding as an all-inclusive under the Barceló Resort umbrella.

Playa currently owns five resorts in Mexico. In addition to the Barceló Tucancun Beach Hotel, the company´s portfolio consists of the Barceló Premium La Jolla de Mismaloya in Puerto Vallarta, the Barceló Premium Ixtapa, the Barceló Premium Huatulco, and the Barceló Premium Karmina Palace in Manzanillo.