Closed on May 26, 2025
Villanueva Ortiz Abogados advised a banking syndicate on a $35,000,000.00 USD financing extension for the remodeling of the Secrets Playa Mujeres Golf & Spa Resort.
Partner, Eduardo Villanueva Ortiz, associate, Liam Sebastián Remberg Del Toro, and interns, Casilda Rodriguez-Peña Monterrubio and Miriam Esperanza Martínez Muñoz, advised a bank syndicate comprised of Banco Sabadell, S.A., Institución de Banca Múltiple, Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte, and Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, on the extension of an existing line of credit to Grupo Hermés for $35,000,000.00 USD, for the renovation of the Secrets Playa Mujeres Golf & Spa Resort.
The original loan of $210,000,000.00 USD, financed the refinancing of the 2019 acquisition of the Secrets Playa Mujeres Golf & Spa Resort and Dreams Playa Mujeres Golf & Spa Resort, both located on the mainland of Isla Mujeres, Quintana Roo, and both operated by AMR Resorts. With this new extension, the bank syndicate's commitment reaches $245,000,000.00 USD.
The debt service is secured by the hotels' operating cash flows, conveyed to a Mexican Trust. The loan also includes liens on the hotel's furniture and equipment (FF&E and OS&E) and a lien under Spanish law granted by a Bahamian company on bank accounts in Spain.
This transaction reaffirms the financial institutions' confidence in the hotel sector in Quintana Roo —Mexico's most important tourist destination globally— and confirms Grupo Hermés' commitment to maintaining these resorts as benchmarks of design and luxury.
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