PROJECT

Projects

Environmental & Social Review Summary

Project Number

44383

Company Name

PROMOTORA XCARET S.A.P.I. DE C.V.

Date ESRS Disclosed

Nov 17, 2020

Country

Mexico

Region

Latin America and the Caribbean

Last Updated Date

Jan 22, 2026

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Dec 17, 2020
Signed : May 28, 2021
Invested : Aug 3, 2021

Sector

Other (Including Restaurants, Amusement Parks, etc.)

Industry

Tourism, Retail and Property

Department

Regional Industry - MAS LAC

Project Description

 

Founded in 1985, Grupo Xcaret, S.A.P.I. de C.V. (“Xcaret”, the “group” or the “company”) is a leading owner - operator of parks and hotels in the Mexican Riviera Maya since 1990. Xcaret's current portfolio of assets includes 7 themed parks (Xcaret, Xel-ha, Xplor, Xochimilco, Xenses, Xplor Fuego and Xavage), one operational hotel (Hotel Xcaret Mexico), and two hotels in an advanced state of construction (Hotel Xcaret Arte and La Casa de la Playa), opening end of 2021 and 2022 respectively, and 4 themed tours (Xichen, Xenotes, COBA and Tulum). The group owns all land associated with its operations, excluding Xel-Ha, which belongs to the Government, conceded to the group under a 30-year concession.

IFC’s proposed investment aims to support the company with additional liquidity and working capital to mitigate the financial impact from the COVID-19 crisis (the “project”). The investment involves a US$100 million corporate loan package consisting of: (i) up to US$75 million secured A Loan and (ii) up to US$25 million from syndication and/or credit insurance. The proceeds from IFC’s investment will be used to pay supplier obligations, employees' salaries, maintenance and repair costs and the construction of a new hotel (Hotel Xcaret Arte with 900 rooms) inside Xcaret’s existing footprint (https://goo.gl/maps/yY7wQr8pxEq2v8Bb7), in addition to other obligations associated with the day to day management of the hotel (e.g., insurers, etc.). No other infrastructure projects will be developed using loan proceeds.

Overview of IFC's Scope of Review

       IFC’s review of the proposed investment consisted of appraising environmental, health and safety (EHS) and social information submitted by Xcaret including: group business details and expansion plans; corporate policies and procedures on EHS, Human Resources (HR) management; regulatory permits; environment monitoring reports, life and fire safety design drawings etc. While IFC’s review focused on the assets identified above, it also reviewed the company’s corporate policies, procedures and systems to asses and manage environmental and social (E&S) risks and impacts associated with all its facilities, directly owned or associated with the project, including those that might be developed in the future. Also, due to travel bans imposed during the COVID-19 pandemic, all engagement with the company, including the E&S due diligence (ESDD) including the “site visits and subsequent communications, occurred virtually via tele- and video conferencing. The ESDD involved virtual meetings with more than 20 company representatives across its parks and hotel businesses during 10 – 25 September.                                             

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan