How to reduce condo inventory – quickly

Over the past few months there has been talk circulating, even by the marketing people, that Tres Mares would have a hotel component, perhaps even the Ritz Carlton. Well talk is now its going to be the Marriott Group, who would have a hotel, fractional and full-time units. This makes sense as the developer is also the landlord of the current Marriott CasaMagna hotel located close by in Marina Vallarta. They are also talking about having convention space as well.

If this is true, this would seriously reduce the number of condominiums currently available on the market, as there are around 600 condos slated for this project, of which about 25% are already sold. Last year Marriott struck a deal with Ian Schrager, who some say invented the concept of the “boutique” hotel, to create a new brand for Marriott for a high-end line of boutique hotels with about 150-200 rooms each. It would be very good for Vallarta if they chose this new brand, as Vallarta is in need of a very high-end hotel to rival the one’s along the north shore of the bay such as the Four Seasons, St. Regis, and soon to be built Rosewood hotel.

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