Jones Lang LaSalle Hotels Closed the Sale of the Samba by Pueblo Bonito Hotel in Nuevo Vallarta, Mexico
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Jones Lang LaSalle Hotels Closed the Sale of the Samba by Pueblo Bonito Hotel in Nuevo Vallarta, Mexico
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Category: North America & West Indies / Carribean islands - Mexico - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2009-08-26
Sale of a 184-room hotel including an adjacent plot of land with 20,504 square meters for the development of 200 additional guestrooms
Jones Lang LaSalle Hotels and Jones Lang LaSalle – Mexico successfully closed the sale of the Samba Vallarta by Pueblo Bonito Hotel. The buyer is a private group based in Mexico City.
The property consists of 184 guestrooms, as well as 20,504 square meters (220,623 square feet) of additional land. The property is located in Nuevo Vallarta, Mexico, a very dynamic and well-known tourist corridor between Puerto Vallarta and Punta Mita, in Banderas Bay, Mexico. The hotel’s amenities include two restaurants, a central swimming pool with a wet bar, a gym, tobacco store, parking facilities and complete hotel services. The hotel will be re-branded by their new owners and operators after a repositioning campaign.
Jones Lang LaSalle represented the former owners of the property for its disposition a few years ago. The current owners are disposing the asset as part of their strategic plans, since they are concentrating their operations in their Cabos and Mazatlán venues.
"The acquisition of a hotel property by a Mexican group under the current economic environment and after the swine flu contingency that Mexico just experienced, is a clear sign of confidence on the tourist potential of the country," said Mauricio Lozano, a senior vice president for Jones Lang LaSalle in Mexico.
“This transaction is one evident result of how Jones Lang LaSalle is focused in providing our clients with real solutions in uncertain environments,” said Pedro A. Azcué, CEO for Jones Lang LaSalle - Latin America.
According to Gregory Rumpel, an executive vice president for Jones Lang LaSalle Hotels, “This transaction is proof of how we are offering clients our extensive expertise in all facets of hotel real estate and providing specialized services to clients that are affected by the current financial crisis. These services include leasing and disposition services for clients with assets experiencing financial difficulties or foreclosure.”
Additionally, the firm is providing receivership services as well as value recovery services, which include helping financial institutions address the operational, occupancy and cost reduction needs resulting from the rapid pace of mergers and acquisitions in the industry. They also include advising those financial institutions with troubled loans and foreclosed real estate (REO) on their balance sheets, including note sales and disposition of REO. Other services are asset and property management. The firm also helps clients raise capital by monetizing owned facilities through sale-leaseback transactions and providing creative asset management and financial solutions to hotel owners and investors struggling in current markets, and assisting owners and lenders in developing asset value creation and recapitalization strategies for underperforming investment properties.
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