August 7, 2002 - Rosewood Hotels & Resorts
announced today it has signed a contract to manage a second property in
Mexico, at Punta Mita, 35 miles northwest of Puerto Vallarta. The announcement
was made by Jim Brown, president of Rosewood Hotels & Resorts. Development
partners include Santa Barbara Partnership and DINE, chief real estate
developer of Punta Mita (a subsidiary of DESC).
| The Rosewood property at Punta Mita will be located
on the Pacific Ocean along a pristine beachfront. The project will be a
gated, low-density development, designed and built to the highest international
standards.
"We are very pleased to be a part of this extraordinary development.
The natural beauty of the area, the vision and thoughtful approach of the
development team, and the demonstrated respect for the local culture were
all attractive to us. Punta Mita quite naturally embraces 'a sense of place(R)'
philosophy, which is the signature philosophy of Rosewood," said Jim Brown,
president, Rosewood Hotels & Resorts.
"With the addition of a Rosewood resort, Punta Mita is setting a new
standard for luxury resort communities, not only in Mexico, but in the
world," said Andres Banos, Vice President, Real Estate Sector of DESC,
and Chief Executive Officer of DINE.
The project will be designed to optimize the topography and natural
beauty of the site. It combines ultra-luxury hotel facilities with exclusive
resort villas that will be provided with certain Rosewood services.
Initial plans consist of 70 Rosewood guest rooms and 53 villas (whole
and fractional ownership) nestled into a hillside, with stunning ocean
views and surrounded by natural rock |
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DINE, S.A. de C.V.
Founded in 1978 and currently Mexico's largest real estate developer, DINE's
mission is to be the leading company in large scale, high quality real
estate development, establishing unprecedented design quality in residential,
commercial, leisure, and corporate real estate projects. The diversity
of their projects and their profound understanding of Mexico's marketplace
establishes DINE as a leading participant in the future of Mexico.
DINE is the real estate subsidiary of DESC, S.A. de C.V., who celebrated
its 25th anniversary last year and is Mexico's eleventh largest conglomerate.
DESC, whose stock is traded on the Mexican and New York Stock Exchanges,
has over $2.8 billion in assets and generated sales of $2.4 billion in
1999. DESC is involved in four principal industries: auto parts, chemicals
and consumer products, food products, and through DINE, real estate development. |
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outcroppings. Guest rooms will be a spacious 700 square-feet in size, and
each will have both a fireplace and plunge pool.
A key feature of the resort is certain to be its spa, with 14 treatment
rooms and 2 spa suites for ultimate privacy, to be located on the property's
rocky oceanfront point. Proposed dining choices will include an open-air
main restaurant, a beach club, and a spa cafe. In addition, the resort
will have a small village with retail outlets, deli, bakery, and gourmet
shop, as well as one adult and one children's pool, both with ocean views.
"We've had extremely good fortune with our first entree into Mexico
- Las Ventanas al Paraiso, a property with the highest occupancy and average
rate in our collection and virtually in all of Mexico. We see Punta Mita
as a strong sister property to Las Ventanas, providing guests with a distinctively
different location, yet similar exquisite service and amenities for which
Las Ventanas is renowned around the world," said Brown.
Groundbreaking is anticipated to take place November 2002, with the
opening projected for Fall, 2004.
Punta Mita is an innovative, master-planned resort and residential community
covering more than 1,500 acres on a spear-shaped peninsula, surrounded
on three sides by white sand beaches, and Pacific Ocean waters, and by
lush tropical flora on the fourth side. The resort is a gated, low-density
development, and has been planned and designed in accordance with the highest
quality of international real estate development and environmental standards.
Punta Mita is also home to Four Seasons Resort Punta Mita. |
Rosewood Hotels & Resorts, headquartered in Dallas, Texas, manages
properties on five continents worldwide including The Carlyle in New York
City, The Mansion on Turtle Creek in Dallas, Las Ventanas al Paraiso in
Los Cabos, Mexico, and Badrutt's Palace in St. Moritz, Switzerland. Each
property is preeminent in its region, and artfully designed with local
inspiration to create "a sense of place(R)." Throughout its 23-year history,
Rosewood has delighted guests and elevated hospitality to a new level by
providing discrete, personalized service and demonstrating remarkable attention
to detail. |
