InterContinental Hotels group has opened its fifth hotel in Mexico City this year alone, highlighting the importance of Mexico and Latin America in general to its expansion strategy.

InterContinental Hotels Group is continuing an aggressive expansion of its holiday Inn brand in Mexico City with the Holiday Inn Mexico Buenavista. The hotel is slated to open in the first half of 2014 under franchise, after a $9 million renovation by owner-operator Operadora ALR.The Holiday Inn Mexico Buenavista will offer 143 rooms near sites like the Chopo Museum and the Palace of Fine Arts in downtown Mexico City. The hotel is expected to feature an additional building adjacent to the hotel with two meeting rooms that can accommodate up to 300 people each.