In a major endorsement of Mexico’s Real Estate and Hospitality Industry, Bill Gates is purchasing the Fours Seasons Resort in Punta Mita. On December 12th Cascade Investment LLC, Bill Gates’ private investment arm announced the purchase of the Four Seasons Hotel in Punta Mita, Mexico. The purchase of the 173-room hotel and adjacent development property (48 acre) from Strategic Hotels & Resorts Inc. was set at $200 million USD.
In a statement about the acquisition, Michael Larson, Cascade’s Chief Investment Officer expressed, “We are a significant investor in Mexico and hold a long-term positive view on the country and its economy… This is an outstanding property asset…”
Cascade’s move is a significant endorsement to Mexico’s booming real estate and hospitality industries, and it is not the first time a high-profile technology personality has invested in the region. Executives from Apple, Siebel Systems, Microsoft, Yahoo, Amazon, Qualcom, and British Telecom have vested interest in this private luxury enclave at the north tip of Banderas Bay.
The number one on Forbes’ list of Richest People on the Planet Carlos Slim, a Mexican National who owns stakes in America Movil and Telmex, Mexico’s telecommunications giants also has a stake in Dine, the master developer for Punta Mita. So, what drives the world’s richest men to invest in this area? The answer is simple. Punta Mita is a breathtaking corner of Banderas Bay, with heavenly tropical weather, Pacific surf, world class golf, stunning resorts, privacy, and proximity to the US and Canada. Puerto Vallarta’s International Airport is only three hours from California and has direct flights from all major airport hubs in North America as well as private jet access.
Mexico’s growing economy and rising competitiveness combined with Punta Mita’s proximity to Silicon Valley has sparked strong tech ties with the region. In the last few years, MITA Institutehas hosted the MITA Tech Talks which have become a premiere event for technology, investment, and entrepreneurial cross border thinking and collaboration. Representatives from Facebook, Twitter, and countless other high profile technology giants including Mexican and US VCs’ and government officials have joined this annual “think tank” event in Punta Mita.
Bill Gates’ purchase in the region is clearly another powerful indicator to what is a clear trend of investment in the region. Recently the Huffington Post published an article placing the Puerto Vallarta & Riviera Nayarit region as the third best place to retire overseas. In this article Kathleen Peddicord she described the area as:
This isn’t developing-world living. This stretch of Mexico’s Pacific coastline has already been developed to a high level. Life here can be not only comfortable but easy and fully appointed. In Puerto Vallarta, you aren’t buying for someday, as you can be in many coastal destinations in Central America. In Puerto Vallarta, you can buy a world-class lifestyle in a region with world-class beaches and ocean views that is supported, right now, by world-class golf courses, marinas, restaurants, and shopping. This is a lifestyle that is available only on a limited basis worldwide, a lifestyle that is truly (not metaphorically) comparable to the best you could enjoy in southern California if you could afford it. In Puerto Vallarta you can afford it even on an average retirement budget. Read more here.
Regarding Cascade’s purchase, Michael Larson reassured their confidence in the Four Seasons brand, “This is an outstanding property asset. Our investment also underscores our confidence in the property’s management team, the leadership of Four Seasons Hotels and Resorts and the strength of the Four Seasons brand overall.”