Star Resorts Development (SRDP) is real estate development company focused on Latin American markets, particularly Argentina. The company specializes in tourism property for affluent travelers and owns a ski resort, Cerro Bayo Mountain Resort, as well as a 47-acre vineyard called Mendoza. Star Resorts Development’s partner in the Cerro Bayo project is already projecting a profit of $100 million.
Interestingly, Star Resorts leaves the development of its properties to partners such as Fiducia Capital Group and Proideas Business Development. Fiducia Capital alone has already developed 45 million square feet of property in South America. The Florida-based company also holds developments in Buenos Aires, Argentina’s capital, giving it a foothold in the nation’s biggest city, wine country and the frequently-visited Patagonia Mountains.
It appears that Argentina’s economy is beginning to blossom in a fashion similar to that of neighboring Brazil. The country has attracted investments from billionaires such as George Soros and Ted Turner. Visitors flock to the South American country because the cost of vacationing at a glamorous resort can be as much as 75 percent less than Europe or the United States. Star’s investment in the Mendoza wine country appears to already be paying off ,as it said the value of its property there has already doubled from the original purchase price.
Shares of Star Resorts Development closed at $1.01 on Friday. The company has a market value of $69.5 million and has seen its shares trade between 75 cents and $2.11 over the past 52 weeks. The company is virtually debt free as well.
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