Two giant US-owned hotel groups rumored to be planning new projects in Cozumel are remaining tight-lipped and refusing to confirm any details.

Local newspapers have claimed a Sheraton complex is being built on the island and that AMResorts is also planning two hotels.

Retail chain, Walmart Mexico and Central America, confirmed, yesterday, that they are building two new stores on the island, with plans to open in late June this year.

The Sam’s Club membership warehouse and Bodega Aurrera discount superstore are being constructed next to each other, in a new development area just over a mile inland from downtown Cozumel.

This 3 bedroom downtown Cozumel home has just been reduced by $5,000 to sell!

Loaded with character and charm, the property boasts lots of custom features, including a garden area and top floor sun deck with city view.

An important agreement was signed, on Monday, that allows plans for the new luxury Cozumel marina to finally move forward after years of deadlock.

The main part of the marina is already contructed and this last step means it can at last be connected to the sea.

When guests, Tommie and Jeannie King from Mobile, Alabama, rented this property, they delighted, "We felt like we had our own private beach!"

Now you could own that feeling.

This top-renting 4 bedroom luxury condo with terrace on the beach is now for sale at just $545,000.