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Trading Places International Instrumental in Unprecedented
Purchase of Lindo Mar Resort in Puerto Vallarta, Mexico
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August 29, 2006 - Lindo Mar Adventure Club, Ltd. (LMAC) has completed the purchase of Lindo Mar Resort, located in Puerto Vallarta, Mexico, giving its members full lifetime ownership of the Club and its underlying property rights. John Gilbert, President of the Lindo Mar Owners Association Board of Directors, stated, “Our loyal members, along with Trading Places International’s expert management and legal professionals from Mexico and the US have helped us realize our dream. As this is a first in Mexico, it has been a long, hard journey while breaking new ground.  Now our members are owners and the Club is stronger than ever.”
 
LMAC, an Oregon not-for-profit corporation, hired Trading Places International, experienced with the intricacies of resort specifics in Mexico, to revitalize a severely ailing club.  TPI, familiar with new Mexican property ownership laws, encouraged the Club’s Board of Directors to begin the process of transferring the title to the members. Negotiations were begun and completed, papers were signed, and in June 2000, payments began. Five years later, management and the members of LMAC celebrated the final payment with a mock “mortgage burning” ceremony at the Club’s owner’s meeting.
 
Lindo Mar Resort is a beautiful 46-unit property overlooking Conchas Chinas beach. It was built and began sales in the late 1980’s but, beginning in the 1990’s suffered a series of problems.  Contractors and former employees sued for back wages and unpaid taxes, and multiple liens were filed against the Club. The resort was operating at a serious deficit due to poor management and unfavorable labor union agreements. In 1998 the Club hired Trading Places International and by 2000, with the aid of tax experts, Mexican law firms, a loyal membership base, a dedicated Board of Directors, and the new management company, the fate of the failing Lindo Mar was reversed.  
 
Lindo Mar’s current financial strength can be attributed in part to a revolutionary change in the ownership offerings.  RJ Jackson, president of TPI said, “As far as we know, Lindo Mar was the first resort in Mexico to sell ‘in-perpetuity’ ownership.”  The change in Mexican real estate practices, with the help of the North American Free Trade Agreement (NAFTA), allowed for new sales and thus created a continuous revenue stream. Previous memberships with only a few years remaining on their traditional Right-to-Use period now have renewed value. “On-site sales are brisk, maintenance fee income is substantial, reserves are strong, and the owners are very, very happy,” Mr. Jackson added.
 
Trading Places International is a 33-year veteran of the travel and vacation ownership industries.  It is the only vertically integrated, independent timeshare company that provides full-service resort management, exchange and rental services, plus a travel agency. It currently manages over 45,000 timeshare accounts at more than 30 resort locations in North and South America.

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Contact:

Daniela Hoyle
Marketing Services
Trading Places International
949-448-5150 x 7688
www.tradingplaces.com
danielah@tradingplaces.com

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Also See: St. Regis Hotels & Resorts Breaks Ground on Luxury Property in Punta Mita; St. Regis Resort, Punta Mita Will Have 120 guest rooms and 65 villas for Fractional and Whole Ownership / May 2006
Barceló Hotels & Resorts Acquires the La Jolla de Mismaloya Hotel in Puerto Vallarta, Mexico for $31 million / November 2005

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