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by Michael J. Shapiro | May 09, 2012

 A Hyatt affiliate will acquire the 756-room Hotel Nikko Mexico for approximately US$190 million, Hyatt announced last week, with the deal expected to close sometime this month. At that time, the hotel will be rebranded as the Hyatt Regency Mexico City. The hotel chain expects to invest approximately $40 million over the next three years to renovate the property and strengthen its position among the upscale and luxury hotels in the Polanco district near Chapultepec Park, the Museum of Anthropology and numerous corporate headquarters. The new owners will combine some of the rooms into suites, resulting in a total of 734 guest rooms. Also on-site will be approximately 30,000 square feet of meeting space, two signature Japanese restaurants, an additional restaurant and lobby bar, a business center, a fitness center, tennis courts and a pool. A six-year refurbishment project of all guest rooms and the Japanese restaurants will wrap up this summer.