Spain's Iberostar Hotels & Resorts plans to invest $100 million in a new beachfront hotel in Nayarit, a state on Mexico's Pacific coast, the Tourism Secretariat said.
The new hotel will be built in the Litibu planned development in the Riviera Nayarit, a National Tourism Promotion Fund project located north of Puerto Vallarta and Punta Mita, the secretariat said.
The project calls for a 5-star hotel with 450 rooms, with the opening expected in late 2013.
Iberostar currently operates nine hotels, two golf courses, two convention centers and a shopping center in Mexico, employing a total of 4,500 people.
"With this new project, the Iberostar Group shows its confidence and commitment to tourism investment projects in our country," the secretariat said.
The new hotel will expand the options for tourists in Litibu, which is home to one of the largest golf courses on Mexico's Pacific coast.
The government is promoting the construction of tourism centers in Litibu and El Capomo in Nayarit, as well as Playa Espiritu in Sinaloa state.
The projects emphasize sustainability and environmental harmony, the secretariat said. EFE