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The Rosarito Beach Condo-Hotel Riding Same Sales Wave as Nearby Donald Trump Project ROSARITO BEACH

, Baja California--(BUSINESS WIRE)--Executives of the 271-unit Rosarito Beach Condo-Hotel say the recent $122-million one-day sales for a similar and nearby Donald Trump project are both encouraging and expected. “Our sales also have been strong since our Nov. 24 groundbreaking,” said Somit Talwar, director for the project at the world famous hotel. “It is indicative of the quality of the project and the great popularity of this region.” Beautifully furnished units in the 17-story Rosarito Beach Condo-Hotel sell from $175,000 for a one-bedroom to $575,000 for a penthouse. If buyers desire, the hotel will rent the unit when it is not in use. About two weeks after the groundbreaking for the Rosarito Beach Condo-Hotel, Trump and Los Angeles developer Irongate held a successful one-day sale for the first phase of their 525-unit project about eight miles to the north. Hugo Torres, owner of the Rosarito Beach Hotel, said the success of his project as well as that of Trump shows the impact of strong branding. “These are names that people know and trust,” Torres said. The popular oceanfront Rosarito Beach Hotel opened in 1925 and has hosted movie stars and presidents. The tourist city 20 miles south of the border grew up around the hotel, which remains its centerpiece. “People have called the hotel enchanting,” said Vice President Laura Torres. “Now they can call it home.” “Currently, about 50 projects with more than 10,000 units are under construction along Baja’s 60-mile Gold Coast from the U.S. border to Ensenada,” said Gabriel Robles, president of ADETUR, the association of Baja resort developers. The building boom has been spurred by comparatively low prices, and the area’s beauty, climate and proximity to the U.S. The availability of U.S. title insurance and financing also has boosted sales. ”The obvious success of the first-day Trump sales program is very exciting,” Robles said. “A quality organization such as Trump/Irongate doing well sets a positive theme for the entire area. The new Rosarito Beach condo tower being developed by Hugo Torres and his group indicates great confidence and optimism about the area’s future, one which we truly share.”
Published Tuesday, December 19, 2006 1:19 PM by Kanoa Biondolillo


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