Why does Starwood not buy HACIENDA DEL MAR?

I just bought at HACIENDA DEL MAR and from my understanding it is in the Sheraton DEL MAR complex. It would make sense to me, as the resort is one of the best of Mexico, and would make a star property: that Starwood would buyout HACIENDA DEL MAR, and make it a Sheraton/Westin.

So why do you suppose, they haven't yet?

gkbiiii said:

I just bought at HACIENDA DEL MAR and from my understanding it is in the Sheraton DEL MAR complex. It would make sense to me, as the resort is one of the best of Mexico, and would make a star property: that Starwood would buyout HACIENDA DEL MAR, and make it a Sheraton/Westin.

So why do you suppose, they haven't yet?

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When did you buy? From the developer?

Mexico has more supply than demand - they are still trying to sell Lagunamar.

I bought a two-bedroom Presidential unit on ebay (for $1 plus all closing/transfer costs paid by seller), which is in closing now. I just emailed back the notarized forms, today. The more I read on Tripadvisor.com and other reviews, the more excited that I bought.

Unlike some other properties, there is no trouble putting this in my LLC., I look forward to using it & renting it. It is odd though, my association dues are $1,610 while, the three bedroom Penthouse Suite is over $3,600. It is larger, but double, the annual dues?

DeniseM said:

Mexico has more supply than demand - they are still trying to sell Lagunamar.

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Lagunamar is almost completely sold. We were down there last year and did the update and they showed me the entire inventory list and there wasn't much left. I know sales lips were flapping, but just for humor and a test, I asked about different weeks (and other inventory) that weren't on the sheet and they declined due to availability.

At some point, you'd think they would take into the SVN Sheraton Hacienda Del Mar, or even Westin Dawn beach since they are both currently SPG properties and not owned by another developer. I guess technically they are already owned by another developer as I am sure it is a separate entity but still Starwood.

Wishful thinking!!! I would love to see the Westin 7 Mile Beach in Grand Cayman converted to a TS. We walked through there while on vacation there and it is a NICE property with a great location. *dreaming*

gkbiiii said:

I bought a two-bedroom Presidential unit on ebay (for $1 plus all closing/transfer costs paid by seller), which is in closing now. I just emailed back the notarized forms, today. The more I read on Tripadvisor.com and other reviews, the more excited that I bought.

Unlike some other properties, there is no trouble putting this in my LLC., I look forward to using it & renting it. It is odd though, my association dues are $1,610 while, the three bedroom Penthouse Suite is over $3,600. It is larger, but double, the annual dues?

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I am glad to hear that you did not pay developer pricing. The probable reasons it was sold are

1. Mexico has more supply than demand as Denise pointed out.
2. Those maintenance fees are high.

The best use of your property will be to use and enjoy it. Mexican vacations come cheap. It is an easy location to trade into. You may be able to rent during the winter months but it will be difficult to cover your maintenance fees.
I thoroughly enjoyed my week in Cancun at a Royal resort. I picked it up as a bonus week. Starwood owners can also exchange into Lagunamar with just a little planning even in the winter.
There are tons of offers online for all-inclusive Mexican vacations. I think you will find it very difficult to find renters wiling to pay a lot.
Enjoy your trips to Mexico.

cubigbird said:

At some point, you'd think they would take into the SVN Sheraton Hacienda Del Mar, or even Westin Dawn beach since they are both currently SPG properties and not owned by another developer. I guess technically they are already owned by another developer as I am sure it is a separate entity but still Starwood.

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Starwood doesn't own these properties - they are just the management company, and the Westin Dawn Beach isn't part of the SVN.

The OP is trying to buy properties for a vacation rental company - in a number of threads, I have tried to dissuade him from buying TS's in Mexico - the demand is just not there, and the market is flooded with cheap rentals.

DeniseM said:

Starwood doesn't own these properties - they are just the management company, and the Westin Dawn Beach isn't part of the SVN.

The OP is trying to buy properties for a vacation rental company - in a number of threads, I have tried to dissuade him from buying TS's in Mexico - the demand is just not there, and the market is flooded with cheap rentals.

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Hi Denise,

I got out of one, based on yours and other advice, though I really like this one and plan to also use it myself. The size of the Presidential Unit, really works for me, as it will not make me miss, my ocean-view condo in Miami Beach.