Strategic Hotels Buys Unfinished Mexico Property from Rosewood

Strategic Hotel Capital, which operates as Strategic Hotels and Resorts, said it will build a luxury, all-suite resort and 55 private homes on close to 50 acres in Nayarit, Mexico.

Strategic paid $29.5 million to Rosewood Hotels & Resorts for its unfinished La Solana Hotel and Villas property in Nayarit, which is adjacent to the Four Seasons Resort Punta Mita, which Strategic already owns.

Strategic said the upscale resort will feature up to 70 suites as well as a spa, a restaurant, a pool and a retail complex on the undeveloped site. The resort is expected to open in 2009.