Filmmaker Guillermo del Toro is set to open a new cinema named after him in Guadalajara, his hometown, on March 10.
The new cinema is one of several that the city is building to improve the festival's offer, reported Variety.
"Hopefully, he'll have a few Oscars in tow," said Guadalajara Film Festival director Ivan Trujillo.
Del Toro's acclaimed fable "The Shape of Water" has received 13 Oscar nominations, including best director and best picture.
During the festival at least five emerging Mexican filmmakers out of 11 contenders will be vying for the Premio Mezcal cash prize of USD 27,000 for best Mexican fiction film and an audience award of some USD 5,000.
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