Transat has bought land in Mexico's Yucatan Peninsula where it will build a beachfront resort The company wants to develop a hotel chain in Riviera Maya and the Caribbean It has bought property near Cancun and promised to buy more in the area It's Transat's first real step towards making the hotel chain happen The company says owning hotels will put it in a better position to deal with more competition from Canadian rivals Transat wants to own or manage 5,000 rooms by 2024