GRUMAR S.A. de C.V.:
Grumar, under the ownership of the father/son team of Mariano Mariscal Barroso, Chairman, and Mariano Mariscal Asunsolo,President and CEO, has been successful in the development of over 8,000 rooms in 52 hotels along the beaches of Mexico. They have developed over 25,000 individual family homesite lots, 2 million square feet of retail space, and 2,750 condominiums, 2 golf courses and 2 marinas. In 1971, Grumar, under the leadership of Mariano Mariscal B., introduced the concept of resort timesharing in Mexico and now has over 35,000 memberships. Both father and son have a great talent for the conceptualization of resorts and extensive knowledge and experience in development and construction in Mexico.

Mariano Mariscal A. joined his father in the business in 1983, beginning as director of planning, sales and operations. His extensive experience and attention to detail in Baja California has helped Grumar form deep relationships with the most experienced and ethical sales team in Baja California Sur(Los Cabos)which is held in high regard by professionals in the industry. Mr. Mariscal has earned the respect of government authorities for Grumar’s creative and environmentally sound approach to sustainable development. Grumar has had numerous joint ventures with U.S. partners over the years and has successfully developed in Texas.

Mr. Rafael Elguero Riba, Grumar Vice President from 1959 to 2007, joined Mr. Mariscal’s team at a very young age and has participated as a partner, co-founder, chief financial officer, operations director, and general executive director for various companies belonging to the group. His principal responsibilities are accounting, finance, fiscal, legal and general planning and administration.