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  March 2014
In this issue:
Mexico - Your Next Home?
Movers and Shakers
Panama Canal
Blue Peso
Quick links:



Mexico Mulls Foreign Ownership Of Beachfront Land

 

After passing the lower house in mid-2013, the senate is now considering a bill that would amend the 1917 Constitution and allow  the sale of Mexican beachfront real estate to foreign buyers.

 

The controversial bill easily passed the house (356-119) but is now facing resistance in the Senate. Opponents to the bill cite national security issues, and would prefer to see the most valuable land stay in the hands of Mexican citizens.

 

Proponents argue that the change will merely streamline what is already occurring. Presently, foreign investors may purchase land near the coast, but are required to do so through 50-year trust agreements with a Mexican bank.  The proposed change would allow investors to purchase directly and own the land outright, provided it is used for residential purposes. Many real estate brokers support the change, anticipat-ing a 20% boost in lot sales and increased property values.

 

While the government weighs this decision, investors all over the world, particularly in the US and Canada, are watching closely to see if owning a piece of paradise will get a bit easier.  For those that can't wait to make their purchase, Mexican law already allows the direct purchase of real estate that is located more than 50 kilometers (31 miles) from the water or more than 100 kilometers (62 miles) from an international border.

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Greetings!

Spring may be coming, but there is no "break" in the activity for the travel and hospitality industries.  Stay on top of recent developments throughout Mexico and Latin America. 
Movers and Shakers

BUSINESS WIRE reports that AMResorts, a subsidiary of Apple Leisure Group, has just signed deals to add two important new properties to its impressive portfolio.

  • First among them is a deal to assume ownership of Isla Mujeres' Villa Rolandi, a 35-room hotel and spa near Cancun, Mexico. AMResorts will begin operating the hotel in June.  It will eventually be rebranded as Zoëtry Wellness & Spa Resorts under Apple's luxury boutique brand, likely by December 2014.
  • The other announcement is the new Dreams® Buenaventura Panama Resort & Spa - a 450-room resort featuring a Jack Nicklaus-designed golf course that is under development in Farallón, Panama. Slated for completion in 2016, this luxury property is AMResorts' first venture in Panama.

The high-end resort chain has been active in acquisitions and developments as of late. These moves mark the 5th and 6th properties acquired by AMResorts in the past year, 5 of which are new developments, and brings their total number of properties to 40.  

100th Anniversary of The Panama Canal
 
Completed in 1914, this engineering marvel is a bucket-list item for many cruisers.  Its 100th anniversay in August is the perfect time to take a luxury cruise down the historic 77 kilometer canal.  As work to increase the canal's capacity continues through 2015, now is also the time to see modern-day history in the making.  Look to the most active cruiselines in the canal (Celebrity, Holland American and Princess) to provide a stunning view of one of the 7 Wonders of The Modern World.  Land lubbers may prefer to see the canal from tierra firma via tours that operate from Panama City.
Your Dollar Goes Farther in Argentina

In the past two years, the value of foreign currency in Argentina has doubled, or tripled, depending on who you ask. "Official" rates verses the US dollar have plummeted recently, and have levelled out at 7 or 8 Argentinian Pesos.  However, government efforts to reduce the sell-off of its currency have created a secondary market (known as the "Blue Peso") resulting in a street-value of 12 pesos or more to the dollar. For foreign tourists, this unexpected change means their vacation dollars go much farther than they did even a few months ago. But vacationers will need large amounts of ready cash to benefit from the Blue Peso, and will need to be ready to negotiate their best rate.
With our 40+ destinations in 8 countries, we look forward to working with you to make your next Group Travel event a truly memorable experience. 

Sincerely,

 

    

 




Jose-Manuel GARCIA, CDS 
Visionary, Founder & Commander-in-Chief
IVI DMC2


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