My wife and I went through the Mayan Palace pitch Tuesday. It was a grueling four hours, but we got through it.
We were approached from a kiosk in Sonoyta. It wasn't that hard to get me to the Mayan Palace because I've been curious about the place for some time. Offering up a $50 dinner at the Lighthouse didn't hurt, so we agreed to do it with the understanding there would be a 90-minute presentation. I doubted we'd want to buy, but I figure anything is possible and I'm always willing to hear a pitch if it isn't too over-bearing.
The strategy is just what Cabo said - ownership with equity potential vs. timeshare. But with the over-supply of resorts and this company building more, any increase in value looks to me like a long shot. Furthermore, my wife and I realized that even though the Mayan Palace is beautiful, we'd rather be in a house at Las Conchas. Clean and beautiful is nice, but after the first five minutes the Mayan Palace is simply not very interesting. Lots of people who don't know each other sunbathing, swimming and generally lounging around. I can do all that at home in Tucson.
I asked our sales guy why this company picked Rocky Point. Why not San Felipe? Santa Rosalia? Loreto? He didn't really know, and I don't either.
By the end they were making offers that were a small fraction of where they started. The sales staff was very nice throughout, and we felt guilty not buying because the sales staff had worked hard with us and no doubt needed the money. They were doing everything possible to get something out of us, which led me to think the operation might be desperate for cash. We offered to give back the Lighthouse dinner and told them they could keep the $20 earnest money we'd put up for our reservation (which included lunch), but they wouldn't hear of it. I wish the sales staff well, but I think the people behind this venture are missing something. Industrial-scale vacation sites don't cut it for a lot of people. I'd rather spend a few days in a small hotel with some character and atmosphere in a place like San Blas.
A sure sign they don't get it is their plan to build their own faux city around the resorts, presumably so their guests won't have to mingle with any Mexicans of the non-tourist variety. I could just stay home and watch travel videos of Mexico and save a lot of money.