Mexico City — Entrepreneur Jorge M. Pérez, Chairman of the Board and CEO of Related Group, focused on luxury real estate, will increase his equity stake in Grupo Hotelero Santa Fe, a Mexican hotel developer and operator.
The Board of Directors, chaired by Carlos Gerardo Ancira Elizondo, approved Pérez’s stake to increase from 28% to 29.7%, the company announced in a statement presented on the Mexican Stock Exchange, where no financial details were provided.
“This increase by this shareholder does not modify the current control group composition of the company,” said Grupo Hotelero Santa Fe, which has a portfolio of 26 hotels, with two under development.
With this move, Jorge Pérez, whose operations through Related Group are based in Miami, Florida, has increased his stake in the company three times in recent months. In June 2022, he received approval from the Board of Directors to increase his equity stake to 24%, gaining significant influence in the company, which manages brands like Krystal. In September of that year, he received approval to increase his interest in the hotel company to 28%.
Carlos Gerardo Ancira and Jorge M. Pérez are the main shareholders of the company, with more than 20% of Grupo Hotelero Santa Fe’s share capital.
Along with other investors, both entrepreneurs are also partners in Related Mexico Fund, a company that participated in the development of the SLS Cancún hotel, now owned by an unrelated third party.