Laurus Negotiates Sale of Le Meridien Cancun
LOS ANGELES, CA, December 18, 2006. Laurus Corporation ("Laurus") is pleased to announce that it has successfully negotiated the sale of the Le Meridien Cancun Resort and Spa to American Property Hospitality Management ("AMPH").
Occupying an integral location in Cancun's famed Golden Hotel Zone, the 213-room Le Meridien, a member of The Leading Hotels of the World, has been rated among the 80 best hotels in the world by leading travel magazines. Cond'e Nast Traveler magazine selected "SPA del Mar" in the Top 50 Spas for both the Top Treatments and Top Program list.
The hotel was acquired by AMPH, an affiliate of American Property Management Corporation ("APMC"). Based in San Diego, APMC was ranked as the 8th largest hotel management company in the April 2006 issue of Hotel Business magazine and the 5th largest independent third-party hotel management company in June 2006 issue of Hotel and Motel Management magazine.
The off-market transaction was lead by Laurus Corporation, a boutique-style domestic and international real estate development company that focuses on first-tier markets and destination resorts. Additionally, Laurus concentrates on upscale residential, multifamily, gated communities, mixed-use properties, and full-service hotels and resorts. The company coordinates activities and converts ideas from paper into reality. It creates, manages, and orchestrates key partnerships while assembling the process of development from beginning to end.
Due to the organization's depth and breadth experience in Mexico, Laurus has become a trusted advisor to investors seeking opportunities, to both create investments and new developments in Mexico, the #1 destination for U.S. travelers.
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