Riviera Nayarit, Mexico - Four Seasons Resort Punta Mita, an ocean-front resort located on a private peninsula surrounded by white sand beaches in the Mexican state of Nayarit, is close to completing a "multi-million dollar renovation" that will turn the secluded property into one of Mexico's most exclusive beach destinations, the hotel said on December 15.
In 2014, in a vote of confidence for Mexico's buoyant tourist industry, Cascade Investment LLC, billionaire and philanthropist Bill Gates' private investment arm, purchased the 177-room Four Seasons Resort Punta Mita and adjacent land for $200 million in cash, according to a filing with the U.S. Securities and Exchange Commission.
Ane Echeverria, a spokesperson for Four Seasons Resort Punta Mita, said that the improvements in the resort owned by Gates' Cascade Investment "come from a plan of the Resort ownership-Four Seasons management to enhance the property."
With an additional $3.6 million investment, the signature suites Sol and Luna are scheduled to open next month. Echeverria said that "festive rates" for the four-bedroom Luna suites will be $19,875 USD per night and for the five-bedroom bedroom Sol $23,875. In non-peak season suites can be booked starting at $12,000 USD per night.
Gates is not the first billionaire to see Punta Mita's potential as a prime retreat for the well-heeled. Mexican tycoon Carlos Slim has been involved for some years in Punta Mita's real estate scene through Inbursa, his banking & financial services company.
Inbursa has a stake in Dine S.A. de C.V., the leading real estate developer for Punta Mita created 15 years ago when Dine bought property to develop a luxury resort with high-end hotels and top ranking golf courses. Arturo Elías Ayub, Slim's spokesperson and son-in-law, confirmed Inbursa's long-standing connection to Dine.
According to Dine's website, in recent years this private luxury enclave has become a magnet for executives from high-profile technology firms such as Apple, Microsoft, Yahoo, Amazon, Qualcomm, and British Telecom.
In the past five years, MITA Ventures, a San Francisco-based venture capital firm that sees Mexico as the innovation bridge between Latin America and Silicon Valley, has hosted the MITA Tech Talks, an exclusive invitation-only networking event of Silicon Valley and Latin America investors, entrepreneurs, executives and policy makers. This year's MITA Tech Talks will take place from February 12 to 14 at Punta Mita's Four Seasons Resort.
Part of the reason for Punta Mita's attraction is its relative proximity to the U.S. Puerto Vallarta's International Airport is only a three-hour flight from California and has direct flights from all major airport hubs in North America as well as private jet access. And with its heavenly tropical weather, iconic beaches, Pacific surf, world class golf and privacy, Punta Mita is an easy 40-minute drive north of Puerto Vallarta.Original article