Jones Lang LaSalle Hotels Sells Sonora Ba

7th Jan 2003

On behalf of Club Méditerranée S.A., Jones Lang LaSalle Hotels has arranged the sale of the Club Med Sonora Bay resort to Grupo Paradiso at San Carlos S.A. for an undisclosed amount. The 430-room property is located on 62 acres of shoreline along the Sea of Cortez in Sonora, Mexico. Grupo Paradiso plans to operate the property as an all-inclusive resort in the short term. In the long term, Grupo Paradiso intends to use the resort as a launching pad for the sale of their catamaran-timesharing operation.

According to Gregory Rumpel, Senior Vice President of Jones Lang LaSalle Hotels in Miami, the marketing of this property was linked to the FONATUR (the Mexican Tourism Agency) initiative for a new government program called “Escaleras Nauticas” or “Stairs of the Sea,” a series of marinas being developed on the Sea of Cortez. “With the Escaleras Nauticas campaign, the Mexican government is encouraging Southern California boat owners to travel to this region. This campaign combined with the region`s tourist and retiree elements should bode well for the success of the resort once Grupo Paradiso has repositioned it,” added Rumpel.

Club Med Sonora Bay offers a nightclub, amphitheater, conference facility, pool, fitness center, 26 tennis courts, two basketball/volleyball courts, soccer/softball field, water sports facilities, equestrian/riding center, and access to an 18-hole golf course located at the nearby San Carlos Country Club.

“Given the state of the stock markets, and our belief that Mexico is the most transparent market for investing in Latin American real estate right now, this was an excellent investment opportunity for long-term returns,” said Christian Charre, Vice President of Jones Lang LaSalle Hotels in Miami, who was instrumental in the deal.

The resort is located six miles from the town of San Carlos, Sonora`s premier resort community and most ambitious development area. The area offers year-round fishing and many nature-based excursions, attracting visitors with diverse interests, including a strong influx of tourists and retirees from the states of Arizona, New Mexico and California.




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