Purchase of the Le Meridien Resort and Spa in Cancun
SAN DIEGO, California - - December 7, 2006 - - Neptune Hospitality Advisors, acting as exclusive financial advisor, has arranged the senior financing for the purchase of the 213-room Le Méridien Cancun Resort & Spa. Gavin Davis from Neptune arranged the US$56,755,700 floating rate interest-only loan through an international investment bank.
A member of The Leading Hotels of the World, Le Meridien Cancun has been rated at the top of the list of hotels in all of Latin America and among the 80 best hotels in the world by leading travel magazines. And those ratings occurred even before management invested US$5,000,000 during the past year in facility upgrades. Conde Nast Traveler magazine selected Spa del Mar in the Top 50 Spas for both the Top Treatments and Top Program list.
The hotel was acquired by American Property Hospitality Management (“APHM”), an affiliate of American Property Management Corporation (“APMC”). Based in San Diego, APMC was ranked as the 8th largest hotel management company in the April 2006 issue of Hotel Business magazine and the 5th largest independent third-party hotel management company in the June 2006 issue of Hotel and Motel Management magazine. With a portfolio value of over $1.5 billion, APMC currently owns and operates 45 lodging properties encompassing over 12,000 rooms and employs over 5,500 personnel throughout the United States.
This acquisition marks the third APMC Le Meridien in its portfolio. Currently, the company is converting the Hilton Suites at the Galleria in Dallas to Le Meridien and building a new Le Meridien in Tempe, Arizona.
"We are delighted to own and operate one of the premier hotels in the Americas,” commented Michael Gallegos, CHA, President & CEO of APMC. "Our goal is to further enhance the status and reputation of this magnificent asset. We plan on acquiring several additional Four and Five Star Hotels and Resorts in Mexico, Que Viva Mexico."
The off-market transaction was brokered by Laurus Corporation of Beverly Hills.
Neptune Hospitality Advisors is a real estate investment banking firm dedicated to the hotel industry. As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach to providing capital raising services, investments sales and advisory services to the hospitality industry.
For more information, contact Michael D. Armstrong, firstname.lastname@example.org or view the company website at www.neptuneha.com.
The Aventine Building
8910 University Center Lane
San Diego, CA 92122
P. (858) 964-5678
F. (858) 964-5679
|Also See:||Neptune Hospitality Advisors Arranges Sale of Hilton Garden Inn Tampa North / November 2006|
|Neptune Hospitality Advisors Arranges $103 million Loan for Six Resort Hotels in Mexico / October 2006|
|Neptune Hospitality Advisors Arranges $39 million Loan for the Purchase of the Hilton Suites Dallas North / September 2006|
|Neptune Hospitality Advisors Arranges $5 million Financing for Holiday Inn Mammoth Lakes / September 2006|
|Neptune Hospitality Advisors Arranges $5.5 million to Refinance Texas Hotel / September 2006|
|Neptune Hospitality Advisors Arranges $22 million Acquisition of Wyndham Dallas Hotel/ June 2006|
|Neptune Hospitality Advisors Arranges Sale of Downtown San Diego Hotel / May 2006|
|Neptune Hospitality Advisors Arranges $49 million Financing of 672 room Portfolio / April 2006|
|Neptune Hospitality Advisors Arranges $30 million Financing for Hansji Hotels / March 2006|
|Neptune Hospitality Advisors Advises Port Authority in Sale of the Two Largest Hotels in Downtown Saint Paul, Minnesota / March 2006|
|Neptune Hospitality Advisors Arranges $25 million Financing of Downtown San Diego Radisson Hotel / March 2006|
|Neptune Hospitality Advisors Arranges Re-financing of Hilton Garden Inn Tampa North / March 2006|
|Neptune Hospitality Advisors Arranges Sale of Radisson Convention Center Hotel in Visalia, California / March 2006|
|Neptune Hospitality Advisors Arranges Acquisition Financing for Purchase of Hilton Salt Lake City Airport / November 2005|
|Neptune Hospitality Advisors Secures $10 million Debt Financing for Purchase and Renovation of 276 room Phoenix, Arizona Hotel / October 2005|
|Neptune Hospitality Advisors Structures $17 million Debt Financing for Purchase of 295-room Doubletree in downtown Albuquerque, New Mexico / October 2005|
|Neptune Hospitality Advisors Arranges Financing for Purchase of Historic Sheraton Gunter Hotel in Downtown San Antonio / July 2005|
|Neptune Hospitality Advisors Arranges Sale of Downtown San Diego Hotel / June 2005|
|Neptune Hospitality Advisors to 'Market for Sale' the Radisson Riverfront and the Radisson City Center Hotels in Saint Paul / June 2005|
|Neptune Hospitality Advisors Arranges $37 million Financing for Creative Hotel Associates Portfolio Recapitalization / March 2005|
|Neptune Hospitality Advisors Arranges Financing for Purchase of Austin, Texas Hotel / November 2004|
|Neptune Hospitality Advisors Arranges Sale of Albuquerque Hotel / October 2004|
|Neptune Hospitality Advisors Arranges Financing for Purchase of Tampa-area Hotel / October 2004|
|Neptune Hospitality Advisors Arranges Refinancing of Unizan Plaza Office Building in Downtown Canton, Ohio / September 2004|
|Neptune Hospitality Advisors Arranges Financing for Purchase of Palm Springs Area Hotel / September 2004|
|Neptune Hospitality Advisors Arranges Acquisition Financing of Nashville Hotel / June 2004|
|Neptune Hospitality Advisors Represents Purchaser and Arranges Acquisition and Renovation Financing of Albuquerque Hotel / March 2004|