When will Mexico take over the bankrupt Loreto Bay Hotel?”
Due to the suspension of activities of the Loreto Bay tourism project, following the announced bankruptcy of the TSD Loreto Partners company, an affiliate of Citigroup, Mexico’s National Tourism Development Fund (FONATUR) will take over operations of the hotel and golf course at the Baja California Sur destination. According to Miguel Gómez Mont, Fonatur’s Director General, a no cost contract (comodato) for both properties has been given to Fonatur, in coordination with the state government and the municipality of Loreto, so that the hotel and golf course will be available to tourists before the month is out. Gómez Mont said that until the project can be sold to new investors who are interested in the continuation of the development, the federal government, through Fonatur, will be in charge of the main promotional activities so that Loreto Bay will continue as a tourist attraction, source of employment, and an added value investment opportunity. Gómez Mont expressed optimism that with
Due to the suspension of activities of the Loreto Bay tourism project, following the announced bankruptcy of the TSD Loreto Partners company, an affiliate of Citigroup, Mexico’s National Tourism Development Fund (FONATUR) will take over operations of the hotel and golf course at the Baja California Sur destination. According to Miguel Gómez Mont, Fonatur’s Director General, a no cost contract (comodato) for both properties has been given to Fonatur, in coordination with the state government and the municipality of Loreto, so that the hotel and golf course will be available to tourists before the month is out. Gómez Mont said that until the project can be sold to new investors who are interested in the continuation of the development, the federal government, through Fonatur, will be in charge of the main promotional activities so that Loreto Bay will continue as a tourist attraction, source of employment, and an added value investment opportunity.
