By Gladys Rodríguez Navarro
Monday, July 27, 2009
Mexdata.info
Due to the suspension of activities of the Loreto Bay tourism project, following the announced bankruptcy of the TSD Loreto Partners company, an affiliate of Citigroup, Mexico’s National Tourism Development Fund (FONATUR) will take over operations of the hotel and golf course at the Baja California Sur destination.
According to Miguel Gómez Mont, Fonatur’s Director General, a no cost contract (comodato) for both properties has been given to Fonatur, in coordination with the state government and the municipality of Loreto, so that the hotel and golf course will be available to tourists before the month is out.
Gómez Mont said that until the project can be sold to new investors who are interested in the continuation of the development, the federal government, through Fonatur, will be in charge of the main promotional activities so that Loreto Bay will continue as a tourist attraction, source of employment, and an added value investment opportunity.
Gómez Mont expressed optimism that with the reopening of operations, after having been closed for a month, besides the opening of new airline routes and the interest of low cost air carriers to serve the destination, the local economy will begin to recover.
The suspension of Loreto Bay came on top of the cancellation of the Loreto Paraíso project, promoted by the Spanish real estate company Fadesa. Loreto Paraíso went under last year when Fadesa entered bankruptcy.
Baja California Sur Governor Narciso Agúndez Montaño, y Loreto Mayor Yuan Yee, added that this tourism center has been hard to get off the ground, considering the international financial crisis, the flu alert, the suspension of commercial flights, and the closing of the two tourism projects.
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“Fonatur asumirá operación de proyecto turístico en BCS,” Gladys Rodríguez Navarro, Correspondent, El Universal, La Paz, BCS, July 17, 2009; MexiData.info (edited) translation
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