Bloomberg — Montage International is partnering with developer Dine on a pair of resorts on Mexico’s Riviera Nayarit as the company furthers its expansion outside of the US.
The properties include a 140-room Montage resort and a 115-room hotel under the company’s Pendry brand, according to a statement Wednesday. The projects, which are expected to cost a combined $500 million to develop, include private residences.
The resorts are set to open in 2026. The sites are located on the waterfront of the Punta Mita peninsula, which is home to beach clubs, resorts and Jack Nicklaus-designed golf courses.
“We’ve always viewed the opportunity to be global,” Montage Chief Executive Officer Alan Fuerstman said in an interview. “We had a tremendous proof of concept in the early years in North America, and not surprisingly, there’s great interest in our brands internationally.”
Fuerstman opened his company’s first hotel, the Montage Laguna Beach, in 2003 and focused early growth efforts on the western part of the US. The company opened its first international property in Los Cabos, Mexico, in 2015, and its first Pendry in 2017, aiming the new offering at younger luxury consumers.
Montage International has 14 hotels across the two brands, with projects in Barbados, the Bahamas and Saudi Arabia in its development pipeline along with planned US properties. The company is seeking to expand as travel rebounds from the pandemic, particularly boosting demand for lodging properties that cater to affluent leisure travelers.
Montage properties have also been popular with investors, with billionaire Tilman Fertitta striking a deal last year to acquire the Laguna Beach hotel.
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