Riu Hotels & Resorts opened its fourth Cancun property on May 4, representing an investment of $140 million. The Riu Palace Peninsula, which was announced in February, will offer a beachfront location and will become the company’s fourth hotel in the destination.

The majority of South and Central American cities tracked by STR Global, which recently announced global hotel performances for March, continued to report revenue-per-available-room (RevPAR) improvements for the first quarter 2012 compared to the same time last year.

The 5-star Iberostar Cancun resort is located in the first line of the seaside and just 15 minutes away from Cancun Airport, aiming to become a landmark for tourism in the Caribbean, in both business and travel. The cost of the initiative, including purchase and renovation, is over $100 million.