Monday, June 24, 2024

RLH investing US $260 million in hotels in Mandarina development

Mexican hotel acquisition and development company RLH Properties is investing US $260 million to build two new hotel and residential complexes on the Pacific coast in Nayarit.

Both properties are within the 265-hectare Mandarina development, located on the Riviera Nayarit less than one hour north of Puerto Vallarta, Jalisco.

“For both developments, we estimate an investment of approximately US $260 million . . .” said RLH general director Borja Escalada Jiménez.

One property is a luxury Rosewood hotel with 130 rooms while the other is a One & Only branded resort with 104 rooms.

Construction of the latter development is already in an advanced stage and some of its 55 private residences have already been pre-sold for prices between US $4 million and $12 million.

“The Rosewood is in an advanced design phase and it will also have residences that we haven’t yet put on the market, a polo field, an equestrian center and restaurants,” Escalada said.

Location of the Riviera Nayarit's Mandarina project.
Location of the Riviera Nayarit’s Mandarina project.

RLH board chairman Allen Sanginés-Krause said that the company’s current focus is on Mexico and the Iberian Peninsula.

“We don’t have a target number of properties to buy, we’ll do it depending on the opportunities,” he said.

The Mandarina development markets itself online as “an ultra-private destination” that “will immerse residents and guests in the culture of Riviera Nayarit while nurturing the warmth of a community.”

Source: El Financiero (sp) 

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