|
|
|
|
|
--
|
Resort Punta Mita in Mexico; -- Acquisition Marks Intention to Increase Transaction Activity for Private Equity Group |
| CHICAGO - March 27, 2001 -- Strategic Hotel Capital
(SHC), a private hotel investment company with assets valued at approximately
$3 billion, today announced that it had acquired the luxury Four Seasons
Resort Punta Mita on the “Mexican Pacific Rivera” from Dine, a subsidiary
of DESC, S.A. de C.V., and Four Seasons for an undisclosed amount. It is
SHC’s second luxury property in Mexico, both of which are branded and managed
by Four Seasons.
Located 25 miles northwest of Puerto Vallarta, the secluded beachfront resort is situated on a 1,400-acre peninsula of rolling land at the confluence of the Pacific Ocean and Bahia de Banderas (Bay of Flags), one of the world’s largest natural bays. The property’s 114 guest rooms and 26 suites all offer breathtaking views of the Pacific Ocean.
Geller noted that the company was exploring a
number of complementary development opportunities for the resort, including
expanding the number of hotel rooms, time share units, a golf course and
related residential activities. The striking, one-of-a-kind destination
location, supported by easy domestic and international access and significant
development potential, make this a
“The Puerto Vallarta area attracts more than 1 million tourists annually and has substantial room for additional growth when combined with the need for luxury resort experiences such as those offered by the Four Seasons Punta Mita,” Geller commented. “We believe that the new national government under President Vicente Fox will be positive for both domestic and international tourism,” Geller noted. He added that SHC continues to aggressively seek acquisitions in North America, including Mexico, Europe and Asia. “We have significant capital available for acquisitions and continue to seek luxury and upscale hotels and resorts that are in unique locations. We believe that there are significant opportunities to acquire hotel assets globally and are aggressively stepping up our acquisition activity.” Located 45 minutes from the Puerto Vallarta International Airport, the Four Seasons Punta Mita already is rated among the finest hotels in Mexico, and recently received Travel & Leisure magazine’s top U.S. destination beach resort. Featured in Architectural Digest for its ecologically friendly and luxurious setting, the property was designed by the architectural firm Diego Villa Senor Arquitectura y Asociados. The oceanfront resort’s rooms are set in a lushly landscaped, environmentally designed setting. All units are situated in one- to three-story Mexican-style, tile-roofed casitas. Guest rooms and suites feature marble baths, private balconies and luxurious furniture complemented with indigenous handicrafts, fabrics and woods. In addition to leisure guests, the property caters
to small to mid-sized groups, offering nearly 3,500 square feet of meeting
space with more than 3,100 square feet of pre-function space located in
an open courtyard adjacent to the main ballroom. A stunning infinity edge
pool curves along a raised terrace above the ocean. A 1,000 square-foot
Cultural Center overlooking the ocean provides
The Four Seasons Resort Punta Mita pampers guests with a 10,000 - square-foot, full-service Four Seasons Spa that furnishes massages, seaweed wraps, aromatherapy, facials and other services, including a comprehensive fitness center. The adjacent beauty salon offers a full range of hair, nail and skin care services.
Guests may dine at the gourmet Aramara restaurant that features Nuevo Latino cuisine with an emphasis on seafood or the Ketsi, the resort’s causal poolside restaurant. Headquartered in Chicago, Ill., Strategic Hotel Capital currently owns 28 luxury and upscale hotels and resorts in North America, Mexico and Europe. The company acquires and aggressively asset manages larger hotels, properties with 200-plus rooms, in markets with unique, hard-to-duplicate locations with high barriers to additional competition. Selected hotels in SHC’s portfolio include the Essex House, a Westin Hotel, New York City; The Ritz-Carlton, Laguna Niguel, Dana Point, Calif; Four Seasons, Mexico City, Mexico; the Hyatt Regency Embarcadero and the Park Hyatt, both in San Francisco, the Hyatt Regency in New Orleans and on Capital Hill, Washington D.C., the Marriott Hamburg, Germany; the Hotel Inter-Continental Praha, Prague, Czech Republic, and the Marriott Champs Elysees in Paris. SHC is a privately held, limited liability company whose major stakeholders include the Whitehall funds and Prudential Insurance Co. of America. |
###
|
Jerry Daly or Carol McCune 703/435-6293 www.shci.com |