What Alójica does

Alójica is a Mexico City-based real estate investment management company that invests in and provides asset management services for lodging real estate, with a portfolio of 2,370+ hotel keys across owned and sub-advisory properties in Mexico and Costa Rica. The company was formed in 2020 as the dedicated hospitality investment platform of Black Creek Mexico, a private equity sponsor that has deployed US$3.6 billion of institutionally-funded vehicles across 16 institutional funds since 1996 and developed or operated 175+ properties. Alójica's owned assets include the Marriott Puerto Vallarta Resort & Spa (433 keys), The Westin Playa Vallarta (281 keys), Westin Resort & Spa Cancun (372 keys), and Royalton Vessence Cancun (376 keys); sub-advisory assets include Costa Rica Marriott Hacienda Belen (300 keys), Marriott Los Suenos (200 keys), and Fiesta Resort (408 keys).

The platform operates a brand-agnostic investment model, partnering with international hotel operators (Marriott International, Royalton Hotels & Resorts, Enjoy Group de Costa Rica) for property management while retaining in-house capabilities across capital structuring, strategic positioning, asset optimization, and operational optimization. Its service modules span deal structuring, capital markets execution, transaction due diligence, repositioning and marketing, capital expenditure planning, and ESG-integrated asset management. The company is PRI signatory and holds ESR (Empresa Socialmente Responsable) certification, with a stated emphasis on sustainability reporting.

Alójica generates revenue through investment management fees (management fees and potentially incentive fees) as sponsor of real estate investment funds, partnerships, and other investment vehicles, supplemented by sub-advisory and asset management fees on select third-party properties. Distribution is direct and institutional, targeting investors seeking Mexican hospitality real estate exposure. The company employs 11-50 people across investment, asset management, construction, development, finance, ESG, and IT systems functions, and reports a leadership team with Cornell hospitality pedigree and prior experience at CPG Real Estate, Marriott, Ernst & Young, PGIM Real Estate, PwC, JP Morgan, and other major institutions.

Name

Alójica

Legal name

GRUPO ALOJICA AenP

Website

https://alojica.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Alójica is a Mexico City-based lodging real estate investment management company and Black Creek Mexico's hospitality platform. It sponsors institutional funds and provides asset management and sub-advisory services for 2,370+ hotel keys across Mexico and Costa Rica.

Ownership category

akta.pro rank

Product category

Hospitality Real Estate Investment Management

NAICS

Hotels (except Casino Hotels) and Motels (72111), Real Estate and Rental and Leasing (53)

SIC

Hotels & Motels (7011), Real Estate (6500), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Luxury Eco-Resorts (THAGACAK)

Keywords

• Lodging real estate investment
• Hospitality asset management
• Real estate fund sponsorship
• Hotel investment management
• Resort asset repositioning

Headquarters

HQ city

Ciudad Hidalgo

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Investment Management Fees: Alójica generates revenue through investment management services as the sponsor of real estate investment funds, partnerships and other investment vehicles. Fees likely include management fees and potentially performance/incentive fees consistent with institutional real estate fund structures.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Alójica is a Mexico City-based real estate investment management company that sponsors investment funds, partnerships, and other investment vehicles targeting institutional investors seeking lodging real estate exposure in Mexico. It provides in-house hotel asset management, capital markets execution, deal structuring, and sub-advisory services to hotel properties operated by third-party brands (Marriott, Westin, Royalton, Fiesta) in primary Mexican tourism markets and select Costa Rica assets.

Product overview

Alójica is a real estate investment management company offering a unified lodging investment platform for Mexico, sponsored by Black Creek Mexico. The platform combines deal structuring, capital markets execution, and active property-level asset management. The portfolio includes owned luxury and full-service upper upscale hotels and all-inclusive resorts (Marriott Puerto Vallarta Resort & Spa, The Westin Playa Vallarta, Westin Resort & Spa Cancun, Royalton Vessence Cancun) as well as sub-advisory assets in Costa Rica (Costa Rica Marriott Hacienda Belen, Marriott Los Suenos Ocean and Golf Resort, Fiesta Resort). Service capabilities span capital structuring, strategic positioning, asset optimization, and operational optimization.

Differentiator

Problem solved

Functional benefit

Products and services

• Alójica Lodging Investment Platform Core investment management platform sponsoring real estate investment funds, partnerships, and other investment vehicles targeting institutional investors seeking lodging real estate exposure in Mexico. Provides deal structuring, capital markets execution, and property-level asset management.
• Capital Structuring Services Service line covering due diligence, transaction and fund-level structuring, and securing efficient forms of financing for lodging investments.
• Strategic Positioning Services Service line providing market analysis, repositioning and marketing, brand/re-brand scenarios, and guest engagement strategies for hotel assets.
• Asset Optimization Services Service line covering capital expenditure initiatives, renovations, inventory optimization, and evaluation of new and alternative uses for lodging properties.
• Operational Optimization Services Service line covering operational efficiencies, systems optimization, multi-property clustering, benchmarking, and labor management for hotel portfolios.
• Marriott Puerto Vallarta Resort & Spa 433-key resort overlooking Bahia de Banderas in Marina Vallarta, Jalisco, Mexico, currently being re-imagined and enhanced. Managed by Marriott International.
• The Westin Playa Vallarta, an All Inclusive Resort 281-key all-inclusive resort on Banderas Bay, minutes from Puerto Vallarta International Airport, with multiple culinary venues, Heavenly Spa by Westin, and 11,800 square feet of event space. Managed by Marriott International.
• Westin Resort & Spa Cancun 372-key beachfront resort in the Cancun Hotel Zone, originally designed by Ricardo Legorreta, undergoing comprehensive repositioning. In partnership with Royalton Hotels & Resorts.
• Royalton Vessence Cancun 376-key all-suite resort in the heart of Cancun's Hotel Zone with white-sand beaches and views of the Mexican Caribbean. Designed by Zyman & Zyman Arquitectos. In partnership with Royalton Hotels & Resorts.
• Costa Rica Marriott Hacienda Belen 300-key urban resort in San Jose, Costa Rica, featuring lush tropical gardens and a working coffee plantation. Managed by Marriott International under sub-advisory agreement with Alójica.
• Marriott Los Suenos Ocean and Golf Resort 200-key ocean and beach resort within the Los Suenos luxury resort community in Herradura, Costa Rica, featuring a marina and 18-hole La Iguana golf course. Under sub-advisory agreement with Alójica; managed by Marriott International.
• Fiesta Resort 408-key all-inclusive resort and club on Costa Rica's Green Coast in Puntarenas, featuring six swimming pools, full-service spa, and nightly entertainment. Managed by Enjoy Group de Costa Rica under sub-advisory agreement with Alójica.

Quantifiable outcome

• 45 million visitors to Mexico in 2024
• +2 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and major.

• Black Creek MexicocoreStrategic or Co-development PartnerBlack Creek Mexico is the parent sponsor of Alójica, contributing US$3.6 billion of institutionally-funded vehicles for real estate investments since 1996. Alójica is Black Creek Mexico's hospitality investment and management platform formed in 2020.
• Marriott InternationalcoreStrategic or Co-development PartnerInternational hotel brand managing multiple Alójica properties including Marriott Puerto Vallarta Resort & Spa, Westin Vallarta, Westin Cancun, Marriott Hacienda Belen Costa Rica, and Marriott Los Suenos Costa Rica.
• Royalton Hotels & ResortsmajorStrategic or Co-development PartnerPartner for Westin Resort & Spa Cancun and Royalton Vessence Cancun properties, representing 748 combined hotel keys in Cancun's Hotel Zone.
• Enjoy Group de Costa RicamajorStrategic or Co-development PartnerHotel operator managing Fiesta Resort in Costa Rica, a 408-key all-inclusive resort on the Green Coast under sub-advisory agreement with Alójica.
• MIRA GroupcoreStrategic or Co-development PartnerRelated Black Creek Mexico platform company. Javier Barrios serves as Chairman of MIRA Group and Black Creek Mexico. MIRA was formed in 2007 as urban mixed-use development platform.
• Gran CiudadcoreStrategic or Co-development PartnerBlack Creek Mexico's multifamily rental housing platform. Bob Batting serves as Former CEO of Gran Ciudad. Platform was formed in 2014.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Fibra Hotel: Mexico's only dedicated hotel REIT, Fibra Hotel owns and operates a portfolio of upscale and luxury hotels across Mexico's primary tourist destinations. Most directly comparable peer: same Mexican lodging focus, similar brand partners, and competes for institutional capital seeking Mexico lodging exposure.
• Black Creek Group: US-based parent of Black Creek Mexico and broader real estate investment platform with $20B+ AUM across industrial, office, multifamily, and lodging. Closest comparable: identical investment DNA, shared leadership, and proven US/Mexico lodging fund track record that Alójica's parent sponsor leverages.

Broad incumbents

• Apple Hospitality REIT: US lodging REIT (~$3.7B AUM) with 220+ hotels across Hilton and Marriott premium brands. Broad incumbent with comparable brand-managed premium hotel strategy and similar institutional capital pool overlap, though US-focused and rooms-product rather than luxury/resort.
• Starwood Capital Group: Global private investment firm with major hospitality exposure (~$10B+ in hotel AUM) and direct ownership of brand platforms. Broad incumbent operating at a larger scale than Alójica, with similar brand-agnostic operator-agnostic hotel investment thesis and active asset management approach.
• Host Hotels & Resorts: Largest US lodging REIT (~$7B AUM) owning luxury and upper-upscale full-service hotels operated by major brands including Marriott. Broad incumbent with comparable brand-managed full-service luxury/upper-upscale asset focus, but diversified across US markets rather than concentrated in Mexico.
• Park Hotels & Resorts: US lodging REIT spun out from Hilton, focused on owned luxury and upper-upscale hotels in major US markets including resort destinations. Comparable asset class (luxury/upper-upscale brand-managed hotels) and similar emphasis on asset-level value creation, though US-only focus.

Emerging players

• Tortuga Resorts: Mexican resort owner/operator managing properties in Mexico, Jamaica, and the US, formerly led by one of Alójica's VPs. Emerging peer with overlapping brand-managed Caribbean/LatAm resort asset base and direct talent pool overlap with Alójica.
• Hotel Investment Partners (HIP): European hotel investment platform (acquired by Bank of America in 2024 for ~$2.4B) specializing in leisure/resort hotels in Southern Europe. Emerging peer with similar focus on resort/luxury lodging investment management, comparable AUM scale, and one of Alójica's associates previously worked at HIP.

Regional players

• Fibra Macquarie: Mexican industrial and retail REIT managed by Macquarie. Regional peer competing for the same Mexican institutional real estate capital pool; portfolio is industrial/retail-led but demonstrates comparable Mexico-focused REIT infrastructure and LP relationships.
• RLJ Lodging Trust: US lodging REIT focused on premium-branded, focused-service and compact full-service hotels. Regional peer in terms of capital pool and structure, with a less direct operational comparison to Alójica's resort/luxury focus but a similar institutional lodging investment model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/68677498/admin

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alójica