MetLife and Thayer Lodging Group Acquire Hilton Resort
Monday September 23rd, 2013 - 10:05AM E
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NEW YORK—MetLife Inc. and Thayer Lodging Group announced today that they have acquired the 365-room Hilton Los Cabos Beach & Golf Resort in Cabo San Lucas, Mexico in a joint venture.
MetLife and Thayer Lodging Group purchased the luxury resort from Oasis Cabo LLC. The purchase price was not disclosed. MetLife is the majority investor in the joint venture with Thayer Fund VI.
“MetLife is pleased to add the Hilton Los Cabos Beach & Golf Resort to our portfolio of hotel properties in Mexico,” stated Robert Merck, senior managing director and global head of real estate investments for MetLife. "Our long term investment strategy focuses on attractive opportunities in the U.S. and internationally, as we continue to seek top quality properties in major global markets in 2013. We highly value our relationship with the Thayer Lodging Group and look forward to continuing this partnership in the future.”
This is the first acquisition for Thayer outside the U.S. and the second high profile investment with MetLife for the Thayer Fund VI in the last two months. In July, MetLife and Thayer announced their acquisition of the Ritz-Carlton San Francisco from Host Hotels and Resorts, Inc.
Tags: MetLife • Thayer Lodging Group • Hilton Los Cabos Beach • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.