Mexican real estate developer Grupo GDI on Wednesday signed a letter of intent and an exclusive agreement with the Oberoi Group of India to develop the luxury Oberoi Hotels & Resorts brand in the United States, Canada, Mexico, Latin America and the Caribbean.
Grupo GDI has already secured the sites for the first two Oberoi properties and a formal announcement with more details is anticipated by early 2018. It expects to invest approximately US$100 million in each of these two properties.
Grupo GDI will handle all aspects of real estate ownership and development, while the Oberoi Group will be responsible for branding and management.
“For us, it is an honor to begin this journey with the Oberoi Group to bring its one of a kind hospitality to the Americas”, said Simon Galante, CEO of Grupo GDI. “The combination of Oberoi Group’s legendary service with unique locations in the Americas will, without a doubt, result in long-awaited and unparalleled experiences in the region.”