Puerto Vallarta, Mexico — With an investment of approximately $250 million, construction has officially begun on the Thompson Hotel & Residences development in the northern hotel zone of Puerto Vallarta, adjacent to the Krystal Hotel. The ambitious 26-story project is poised to redefine luxury living and tourism in the area, featuring 130 condominiums, 85 hotel suites, 5 penthouses, 28 furnished apartment units with hotel rental service, and 6 gardenhouses offering panoramic views of the Pacific Ocean and surrounding mountains.
Businessman Carlos Ancira, co-founder of Related Group, the company spearheading the investment, described the development as an opportunity to blend seascapes and local cultural influences with modern urban design. “We are offering a carefully designed experience, combining natural settings with urban destinations,” said Ancira.
The interiors will be crafted by renowned interior design firm Sofía Aspe, ensuring that every space features luxury materials and top-tier finishes. Ancira noted that the development aims to introduce “a new way of living that will completely transform lifestyles for guests and residents alike.”
The project required a reconfiguration of the beachfront area, designed by esteemed architect Ricardo Elias, who developed the master plan for the seven-hectare site. Construction is expected to take 36 months, with work officially commencing on Thursday.
The response to the project has been overwhelmingly positive, according to Ancira. “In just five months, 65% of the properties have already been sold, with 95% of buyers being Mexican nationals,” he stated. “We Mexicans are buying Mexico. Let us continue to trust in our country.”
The reconfiguration of the hotel zone will bring significant changes to existing properties. The Hilton hotel will be rebranded as a Hyatt Breathless hotel, while part of the Hacienda hotel will become a Hyatt Zoëtry property. The Krystal Hotel will undergo a complete renovation and rebrand under the Grand Krystal name.
The new development will feature signature amenities such as restaurants, a spa, gym, cinema, playroom, entertainment areas, and paddle tennis courts.
The Thompson Hotel & Residences will operate under a luxury all-inclusive model, catering to a high-end market segment. “Vallarta has fallen behind compared to neighboring states,” Ancira remarked. “The destination needs a renewed product to remain competitive in the high-end market.”
However, Ancira emphasized Puerto Vallarta’s enduring appeal. “This destination has security, hospitality, and attractions to spare. Everything here has magic — it just needs a few drops of oil.”
The project is already generating between 500 and 600 construction jobs and is expected to create approximately 500 permanent jobs once operational.
During the event, Jalisco Governor Pablo Lemus Navarro underscored the project’s importance for revitalizing Puerto Vallarta’s tourism and residential sectors. “Puerto Vallarta deserves this renovation that bets on high-end tourism,” he stated.
Governor Lemus stressed the need for comprehensive transformation in the region. “I have been coming to Puerto Vallarta since I was a child. I want to see quality development that benefits everyone.”
He also highlighted the importance of attracting international investment to the state. “This announcement must be promoted globally. Last year, Jalisco ranked as the third state in Mexico for job creation, and we aim to do even better.”
Puerto Vallarta, Mexico — With an investment of approximately $250 million, construction has officially begun on the Thompson Hotel & Residences development in the northern hotel zone of Puerto Vallarta, adjacent to the Krystal Hotel. The ambitious 26-story project is poised to redefine luxury living and tourism in the area, featuring 130 condominiums, 85 hotel suites, 5 penthouses, 28 furnished apartment units with hotel rental service, and 6 gardenhouses offering panoramic views of the Pacific Ocean and surrounding mountains.
