We found and copied the following article posted on Wikipedia. It provides information about the airport at Mar de Cortes, which services the Rocky Point and Puerto Penasco communities. We heard that the airport is now open for business. Not confirmed however.
The Mar de Cortés International Airport is the first completely privately built airport in Mexico. It was built by Vedanta Capital Group. It is located in La Jolla de Cortés, near Puerto Penasco in the state of Sonora. The airport’s concrete runway is the fourth runway in Mexico built entirely with concrete provided by Cemex. In addition the airport was awarded a Premio Obras Cemex in 2007.
The runway was inaugurated in September 2007 when President Felipe Calderon's presidential plane landed on the runway for the Border Governors' meeting. The runway is built to endure the repeated landings of 737 planes and is 200 meters longer that the runway of the International Airport in Hermosillo. The main terminals of the airport are still under constructions with opening dates between 2010 and 2012. Once finished, this airport will be one of the most important in Mexico. The airport is located 30 minutes from the town of Puerto Penasco and 5 minutes from some of the bigger hotel and condominium developments by the Sea of Cortes.
Once opened, the airport will be receiving flights from all over the world. Some of the shorter flights will be coming from the U.S. states of Arizona, Nevada and California, as well as other important cities in Mexico.
The Fundacion Grupo Vidanta web page describes the mission and objectives of what appears to be a very impressive organization. The foundation took its name on May 1, 2008 from the Grupo Mayan, which originally formed and funded the organization. According to the foundation's web page, the purpose of the foundation is to promote science and culture for the common good. To our thinking, their sponsorship of such an organization demonstrates the owners' commitment to give back some of their good fortune out their respect for and pride in their culture and country.
February 24, 2009
The relationship between Grupo Mayan and Vedanta Capital Group is evolving. Vedanta Capital will continue to perform its private equity investing activities. In the meantime, the new name of the Vedanta Capital Group association with Grupo Mayan is Grupo Vidanta.
The Grupo Vidanta website displays all of the brands that were under the Grupo Mayan name plus the new brands that have been created since the two joined forces.
You can check out the new page by clicking on the Grupo Vidanta link above. Clearly, there are plans to link all of the changes taking place into one location. Certainly, that will be easier to understand in the future.
We are looking forward to this evolution because it demonstrates a continued commitment to excellence. This relationship is very good for those of us who are owners as well as those who are guests.
Investments include the Grupo Mayan brands as well as brands that were not part of the Grupo Mayan resorts. For example, Grupo Mayan communications pieces have not indicated that Grupo Mayan Restors owned an interest in the airport at Puerto Penasco. Mansions of the World have not been mentioned either. But we speculate and do not know the facts.
Also interesting is each Grupo Mayan golf course has been given a new name and all will operate under the Albatross Golf Courses brand. The claim is Albatross is the largest operator of golf courses in Mexico with five different locations to use. See the Golf page below for direct links to the Albatross Golf Courses website.
Lot's of activity and plenty of time lines to meet. We can't wait to see the progress when we visit next. Hopefully some of you would like to contribute some photos of Nuevo Vallarta, Riviera Maya and other developing resorts if you are in the area.
October 2008 - We Learn That Vedanta Capital Owns Grupo Mayan Brands
Thanks to one of our viewers for alerting us about information at Wikipedia.com that concerns the Bliss and other brands offered by Grupo Mayan Resorts. It states that Vedanta Capital Group now owns the Grupo Mayan brands, which is news to us. Wikipedia states the firm was founded in 2007 and is a Mexican-based private firm investing in Latin American luxury resorts, real estate and urban developments.
We found additional information from the Business Wire and thefunded.com. These posts state Vedanta Capital Group was formed in 2006 and is headquartered in New York. Excerpts of the information appear below.
Vedanta Capital Group partners have worked together for many years managing private equity investments for institutions. We can only speculate that Vedanta Capital Group manages a vehicle that was formed to consolidate fractional or total ownership of different vacation brands under one roof.
According to Wikipedia, Vedanta Capital has interests in concepts called Nayar Town, Nayar Beach Jungle and River Town, which may provide the connection of the "Jungle" brand of Bliss with the Grand Mayan. Interestingly, according to the Wikipedia post below, "Nayar will be home to several hotel brands, including The Grand Mayan, Mayan Palace, Sea Garden, Grand Luxxe, The Bliss and the Grand Bliss." The consolidation includes another brand called Mansions of the World and Albatross Golf Courses.
It appears the Grupo Mayan properties are transforming into Vegas-style centers, with permanent entertainment, concerts and other activities that will attract more people.
Please Note: Originally, all of the links were active. Now only a few are. We believe Wikipedia writers were unable to support the posts because of their commercial orientation. Regardless, the information was there and we have preserved it.
Nayar Town is a luxury shopping, dining, and entertainment complex located in Nuevo Vallarta, Mexico. Nayar will be home to several hotel brands, such as The Grand Mayan, Mayan Palace, Sea Garden, Grand Luxxe, The Bliss, and The Grand Bliss. Nayar will be constructed in the form of a traditional Mexican town and will feature an Albatross Golf Course, a convention center, canals, lakes, a concert arena for five thousand people, a boardwalk, shopping, dining, and a permanent Vegas-style entertainment show.
Please note: The Wikipedia post that appears above is no longer offered by Wikipedia. The reason - The article appeared to be to much of an advertisement according to the Wikipedia editors.
Copied from thefunded.com
Vedanta Capital CERTIFIED
Rated 1.5 / 5.0 by 1
Favorable Deal Terms
FIRM OVERVIEW: Large Private VC founded in 2006 based out of New York, USA (US East)
FIRM DESCRIPTION: We are a team of investors and entrepreneurs that have been in the business for over two decades. We have started Vedanta Capital to put to work our knowledge, experience and network on behalf of the entrepreneur. Besides helping on operational and general strategic issues, we can help forge strategic partnerships in Europe and Asia. Many of us have worked together for years: our core team used to be the managing team of INVESCO Private Capital. We are investing a new fund, but we are also managing a portfolio of companies that our investors asked us to continue following after we decided to leave INVESCO.
Copied from Business Wire - publishing date: May 19, 2006
Three Venture Capital Veterans Launch Vedanta Capital
NEW YORK -- Parag Saxena, Alessandro Piol and Howard Goldstein, formerly of Invesco Private Capital, have launched Vedanta Capital, a diversified venture capital concern.
Vedanta initially will focus on venture investments but anticipates a wider array of global venture capital and private equity activities. Saxena, Piol and Goldstein led investments in their respective practices and were the senior-most principals of the Invesco Private Capital team. Saxena and Goldstein have been investing together since 1984. Piol joined them in 1995.
Saxena, a co-founder and managing partner of Invesco Private Capital, began as an investment professional at Citicorp Investment Management in 1983, and has been with the group ever since. He serves on the Foreign Direct Investment task force reporting to the Prime Minister of India as well as on its Committee on Venture Capital and Innovation.
Howard Goldstein joined Citicorp Investment Management in 1984, and continued when it was spun off into Chancellor Capital Management. Chancellor was acquired by Invesco in 1998. Goldstein led the consumer and retail practice. Alessandro Piol, co-founded AT&T Ventures in 1991. He joined Saxena and Goldstein four years later. He led the technology and new media practice at Invesco Private Capital.
COPYRIGHT 2006 Business Wire COPYRIGHT 2008 Gale, Cengage Learning
This is the end of the Business Wire, May 19, 2006 post Residence club brands in which we own rights to use interests now appear to be owned by an entity other than Grupo Mayan. We are not initially troubled by this change. The Vedanta Capital partners appear to be experienced and well positioned to provide Grupo Mayan owners with leverage to continue growing without relying solely on the efforts of the owner, Mr. Chavez.
To the contrary, if the financing is in place and all the plans can be fulfilled to meet our high expectations, the Albatross Golf Course could be spectacular and the feel of a Mexican town in the midst of multi-level residential towers, lakes, huge swimming pools, the concentrated shopping establishments and regular entertainment venues could be real draws.
Selfishly, of course, we would like to see small crowds rather than large ones, while at the same time have demand for our timeshares go through the roof. A bit of an oxymoron, right? So, stay tuned! Lots more to come it seems.
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