Algodon Mansion Façade: Before & After

Wow, we have come a long way!  These are a few photo comparisons of Algodon Mansion, and the “before” shots are what the mansion looked like before we began any of our construction.  Other than having said that, I think the photos speak for themselves!

 

  

 

 

We’re having a professional photographer come in for some more shots soon, so I’m really looking forward to showing you the “before & afters” of the interiors- suites, Chez Nous, etc.  You won’t want to miss it.
-Scott Mathis

Algodon Food, Algodon Wine Update

I am very excited to tell you about Chez Nous’ Algodon Black Label Burger.   It’s dynamite!  Truly.  In fact, it’s worth the trip down to Buenos Aires for this meal alone.  The burger is made using only the highest quality of Certified Black Angus Tenderloin and braised lamb, and includes a very special whisky sauce that is extraordinary.  You have to taste it for yourself.  Algodon Mansion’s Executive Chef Antonio Soriano has done a terrific job with this (as he has with the rest of the menu), and our Black Label Burger is very appropriately named.

At Algodon Wine Estates, Senior Wine Advisor Marcelo Pelleriti has submitted his latest report on our vines since his last recent visit.  Among other things, Marcelo said that the recent work done on the vineyard is really starting to show and that the vines are looking great.  They’ll soon begin the maturity analysis for our white varieties; Semillon, Chenin and Chardonnay.  Our team is also beginning the micro vinification preparation for our 2010 Chardonnay.  Very exciting.

- Scott Mathis

Introducing Algodon Mansion!

2010 is going to be an exciting and busy year for Algodon!  It hasn’t been easy to get where we are, but we’ve accomplished a lot.   Algodon Mansion is booked for it “soft opening”- which is today!  We will be at full capacity hosting our first 18 guests, and we couldn’t be more excited.   This is what we’ve all been working so hard for, for so long.

Considering all the positive press we received in 2009, I hope to see Algodon in the media even more so in 2010 to continue the trend.  Speaking of which; Algodon Mansion is currently featured in Financial Times' "How to Spend It" online magazine!  And we’re also now listed on the website for Travel + Leisure Magazine.  The photo on the right is from our appearance in Brazil’s American Express Platinum Card Magazine.

-Scott Mathis

Happy Holidays and New Year’s Celebrations to one and all!

2009 was truly a great year, and we have much to look forward to in 2010.  With Algodon Mansion’s opening in just a few short weeks, our new employees are trained and ready to go, and I can barely describe everyone’s enthusiasm.   We are the talk of Buenos Aires.  I’m happy to say that we were able to hire top talent merely on the idea that our extraordinary and unique luxury hotel was about to open.

The mansion is stunning.  I am personally astonished by its ultra high-quality, luxury décor and overall feel.  Although that was our intended vision from the very beginning; it’s still overwhelming to see that it has actually become a reality.  It has been a long journey but everything is finally coming together.  Thank you investment partners, thank you staff, thank you designers and architects!  You have all worked very hard to make this moment possible.

Our 3 night “Proposal Package’ appears on the Global Traveler website, and we have a short but sweet mention on the Pan American Tours & Travel blog.

See you in Buenos Aires!

- Scott Mathis

Algodon expands its online horizons

Algodon Wine Estates and Bombal & Aldao are mentioned in Lugares, an Argentine travel magazine.  Pick up a copy if you’re down there. 

A friend forwarded this link to me:  a Google book search of Algodon Wine Estates reveals that on page 81 of George M. Taber’s book In Search of Bacchus: Wanderings in the Wonderful World of Wine Tourism, Algodon Wine Estates and InvestProperty Group are both mentioned. 

In keeping up with the times, our Algodon Properties now each have their own Facebook pages.  We’ve included some great pictures, so be sure to check out the photo galleries.  If you happen to be on Facebook yourself, by all means “become a fan” of the properties.  

Click here for Algodon Wine Estates on Facebook. 

Click here for Algodon Wines on Facebook. 

Click here for Algodon Mansion on Facebook.  

We’ll be keeping these pages as updated as possible with the latest photos, events, and accolades, so visit them often. 

-Scott Mathis

Algodon all over the Internet

Hot off the presses!  Algodon Wine Estates appears in Time Out Magazine Buenos Aires!  Time Out magazine is one of my favorite travel guides, as it always seems to provide the hippest and most up-to-date hotspots.  You can see our write-up here. 

Algodon Mansion is also mentioned in Incentive online magazine;  “Ideal for high-end executive retreats or as a treat for a top performer, Algodon Mansion opens next month in Buenos Aires, Argentina, joining other top luxury properties (including Alvear Palace and the Park Hyatt’s Palacio Duhau) in the city’s Recoleta neighborhood.”

Incentive has also written up a piece on Algodon Wine Estates Wine Barrel Ownership Program, which you can read about here.  By the way, a personalized barrel form our wine barrel program makes a great holiday, gift so check our website for our special holiday promotion. 

I ran across this article in The National Newspaper online, where José Luis Clerc appears.  Although it’s about a game upset, it’s still nice that he’s mentioned!

If you haven’t visited our DPEC Partners YouTube channel, do so!  Here you’ll find some great video updates of our Algodon Properties! 

Have a great week!

-Scott Mathis

More Algodon in the media!

Algodon Mansion’s Rent the Mansion package is currently being promoted at Affluent Page Luxury Index. “Why share a hotel when you can have the whole thing?” they ask. From their website: Affluent Page Luxury Index is a luxury consumer magazine devoted to marketing luxury brands and upscale services. Published bi-monthly, the magazine is nationally distributed to readers, with a net worth of $10 Million and up.

Algodon Mansion also appears in the October issue of Argentina’s American Express Platinum Card Magazine, which goes out to over 22,000 platinum cardholders.

DPEC Partners also gets a nice independent write-up on investing in Argentina at Nuwireinvestor.com (I’m also interviewed in the article.)

We received more great news for Algodon Wines; our Sales & Marketing Coordinator at Algodon Wine Estates has done an excellent job getting our wines in some very important wine stores in Buenos Aires and beyond. Our label will now be available in “Wine Gallery” wine shop, located at 1780 Montevideo, in Recoleta. That’s just one block from Algodon Mansion. Algodon Wine can also be found at a “Wine Gallery” wine shop at 1811 Av. Cramer, in BA’s Belgrano neighborhood.

In the press last week; Food and Wine magazine announced their list of the best restaurants in Buenos Aires. Let’s get Algodon Mansion’s Chez Nous on this list next year! In sports news; with Del Potro’s Open win a few months back, the Los Angeles Times dubs Argentina the “Cradle of Tennis Stardom”! We always seem to be in the right place at the right time nowadays! Perhaps Algodon Wine Estates' Tennis Center will be the birthplace of talent for future Grand Slam Winners under the guidance and tutelage of, say for example, José Luis Clerc. Very exciting!

--Scott Mathis

Tennis Anyone?

Lots of media news: Algodon Wine Estates’ “Migration Package” is featured in the November issue of Travel+Leisure Magazine! Their circulation is 957,987! Incredible! We’re also featured here on EliteTraveler.com! Elite Traveler has 649,000 readers per issue in over 100 countries, with an average household income of $5.3 million. Now that is “elite”! Lastly, Forbes Woman Magazine is promoting this special package for us in their publication. Their ad directs readers to our website for a 20% discount and will appear in the December issue of their magazine.

Construction on the mansion is furiously wrapping up to meet our Grand Opening goal date. Algodon Mansion’s General Manager, Pablo Veloso, tells me that the staffing recruitment for the hotel continues and that in just a few weeks the entire staff will be hired and trained. There will be an intensive and thorough 2-week training course for these new employees before any of our guests arrive.

Here’s a recent photo of the tennis center’s progress at Algodon Wine Estates. The photo shows our hardworking maintenance staff as they tend to the huge expanse of the clay courts. The clay court area is so large that our photographer couldn’t fit it all into the frame. It looks fantastic!

As I’m sure many of you have been reading, Argentina is currently in legislation to settle $20 billion of its outstanding bond disputes. This is great news for their economy in my opinion; a successful renegotiation with holders of defaulted debt should create access to international capital markets for the first time since 2001, and will open the door to foreign investment.

Look out- even Wal-Mart is getting into the action of Argentine investments!

Here is an excellent Washing Post article about Nicolás Catena, an Argentine visionary who saw Argentina's potential to produce fine wine. The article dubs him “Argentina’s Ambassador of Wine.” Catena’s is credited as the “founding father of modern Argentine wine”, and as being responsible for having launched Argentina’s wine boom. His significant role in the wine world is further evidenced by Decanter wine magazine’s honoring him as Man of the Year for 2009.

Here’s some very interesting olive oil news; evidently it has just been determined that it may play a factor in preventing Alzheimer’s. Algodon’s gold-medal-winning Extra Virgin Olive Oil isn’t just delicious; it’s also good for you!

One final thought; did you know that the average Argentine eats approximately 163 lbs. of beef every year? That comes out to approximately two McDonald’s Quarter Pounders every day, all year long.

--Scott Mathis

Chez Nous Sampling

Last week when I was visiting Buenos Aires on business, I had the pleasure of meeting once again with our new Executive Chef, Antonio Soriano, in order to discuss and sample a selection of menu items for Chez Nous. The purpose of this preview sampling was to familiarize Algodon Mansion’s principle and executive staff with the menu and its ingredients, by experiencing it firsthand. These are the people who will need to be well acquainted with the tastes, aromas, ingredients and the stories behind the recipes and foods that inhabit Chez Nous’ menu. This was also an opportunity for us to ask any questions, and provide any input we might have in relation to the menu. The sampling was comprised of nearly everything that the dinner menu will feature. We shared an open forum to confer our tasting experiences, and discussed the pairing of certain Algodon Wines with certain menu items, since Algodon Wine will be highly emphasized on Chez Nous’ wine list. One of my favorite items on the menu was a mushroom truffle mouse. Antonio, along with Gonzalo Bazterrica (Chef de Cuisine) and Damian Betular (Pastry Chef) were careful to explain to us each dish’s preparation. As virtually all of our ingredients are regional, these proficient chefs were also very informing about where each of the ingredients came from. For example, the oysters and the sea bass are from Patagonia, the garlic is from Mendoza, and the beef (of course) is 100% grass-fed Argentine beef. I must say that the three chefs appear to have a real affinity for working together, and their seemingly seamless preparation would indicate to someone who didn’t know better, that these three share camaraderie from having worked together for years. Their skills are exceptional. Damian was even able to weave some of his pastry expertise into the main menu with a certain shrimp appetizer wrapped in phyllo dough. It was extraordinary. I wish I knew more about the restaurant industry, but I am certain that our investors and customers will enjoy Chez Nous, and I hope this will be a profitable venture. We’ve decided on this logo for the restaurant: This design may, for example, appear in on the menu cover, in certain advertising, and on incidentals such as matchbooks or restaurant stationary. --Scott Mathis

This Week’s Roundup of News and Events…

Press, media, and more press! Here is a terrific piece on Algodon Mansion and Algodon Wine Estates from MartiniLife; a daily email newsletter that shares “the best kept secrets in gear, gadgets, fashion, entertainment, food and dining, travel, and a few things that you just can't live without.” Glad to know we’re somewhere on that list! Algodon Wine Estates was also featured in last weekend’s La Nación, one of Argentina’s leading newspapers! Apparently, Clarín is its main competitor. Here is a rough Google translation of the article: Al pie de la Montaña y Viñedos con (At the foot of the mountains and vineyards). We’ve received some new photos this week that I’d like to share. The first is of our new Algodon Wine Estates signage, which we’ve hung on the winery’s exterior. It really looks great. I feel it lends a personalized touch to the structure, which has in many ways become the iconic symbol of the property.

The next photo is of the glass roof for Chez Nous’ outside dining patio. Very nice! I’m looking forward to the evening when guests of the restaurant can dine on its patio and be able to look up and see the stars and Buenos Aires sky. When I was in Paris on business last weekend, I was invited to an interesting, analogous property to Algodon Mansion, called Pershing Hall. It’s similar to our Buenos Aires hotel in many ways and apparently, it’s a very successful operation. At 350 sq ft, some of their suites are significantly smaller than ours; however they’re getting 500 Euros a night for those. Their top suite is 700 sq ft and it goes for about 1,000 Euros. Their restaurant is one of the most popular in Paris. Here’s an article from the Washington Business Journal (via the Pittsburgh Business Times) headlined Argentina’s travel industry provides business and leisure. The article talks about what a hotspot Argentina is right now, and its growing appeal to Americans. That’s no news to us! Lastly, in economic news, Argentine will reportedly pay off its Paris Club debt over the next five years. --Scott Mathis

Algodon in the Media, del Potro, and More…

Algodon Mansion gets a nice mention in this month’s Delta Sky Magazine! The write-up acknowledges our restaurant, menu, and accompanying estate-grown Malbec. Although, the restaurant details are a bit outdated…we’re happy to have made an appearance. Delta Sky Magazine reaches 5 million readers each month! Algodon Wine Estates is also featured in Area 3 Magazine, a widely distributed publication in Mendoza. The article, which discusses our newly established international wine panel, is unfortunately not online yet- but I’ll be sure to share it with you once it’s up. In the meantime, here’s a scanned photo from the magazine’s hardcopy.

Score another one for the Argentines! Juan Martin del Potro’s U.S. Open win was a surprise to us all, but I’m not complaining! Argentina is everywhere is sports news these days, and that only means good things for Algodon Wine Estates & Champions’ Club! Our new tennis courts and newly expanded 18-hole golf course are literally weeks away from being ready to play. I wonder how del Potro feels about San Rafael, perhaps we’ll see him at Argentina’s first Algodon Malbec Classic!…In other sports news, Argentina’s Rugby team, Los Pumas, have been invited to join the Southern Hemisphere’s Tri Nations. If everything goes according to the plan, Tri Nations will become “Four Nations” in 2012. While we haven’t any immediate plans to construct a Rugby field at Algodon Wine Estates, you never know what the future holds…2016 perhaps?

Our Executive VP & CFO is in Buenos Aires this week and sent the following email to us soon after his arrival: “I only had a couple of minutes today to see the Mansion, but WOW – it’s a MANSION - it just looks fantastic. A person working on every corner, and the progress is enormous. The stairs are in and some of the rooms are basically finished (without furniture). The kitchen crew is working in the kitchen and the light-well is truly the “show-off” center piece. No doubt we still have a lot of work ahead, but things look great. The master suite bathrooms are enormous and the quality is 100%.” He also sent us some new photo updates from Algodon Wine Estates, including this one of the tennis courts, which by the way are looking tremendous. Thanks for the update, Tim!

-- Scott Mathis

Argentine Interview, AM Update, More Media, and Wine News…

I hope everyone had a memorable Memorial Day weekend! For those Spanish speakers (or Google Translate aficionados) check out our interview with Los Andes online published this week (the interview can also be found at AreadelVino.com). Los Andes newspaper is a huge publication, analogous to the New York Times of Mendoza. In the interview we discuss among other things our Algodon Wine, a bit of our history, and the fact that we’ve already invested approximately $25 million in our Argentine properties. The interviewer also touches on the world-wide economic downturn and its effect on real estate developments. I have always been very clear about my optimism regarding the future of Argentine real estate, and that I believe in the importance of diversifying personal investments outside of the U.S. economy and the U.S. dollar. In one of my favorite exchanges, the interviewer asks to what extent our Argentine developments have been affected by the economic crisis:

Question: Did you have to lay off any staff due to the (economic) crisis? Answer: Actually we hired nine people in Buenos Aires for the mansion; a luxury hotel with a restaurant, bar, and wine cave- and two others for the hotel in Mendoza.

Gerhard Heusch emailed me this morning and once again confirmed that the scheduled Algodon Mansion opening date is still intact. They’re working very hard down there, and the work is going fast!

Algodon Wine Estates gets a tremendous write-up from Jim Bryant for Chicago’s (metro area) “Quintessential Barrington” lifestyle magazine. Mr. Bryant’s glowing descriptions of our estate, our wine, our amenities, and San Rafael- go beyond terrific. He also very favorably mentions our partners at Bombal & Aldao and Finca los Alamos.

In other wine news, The LA Times published an interesting article titled Findings of wine contest study hard for critics to swallow. From the article; “…consumers should not always assume that gold medal winners are outstanding wines…retired Cal State Humboldt professor Robert Hodgson said he looked at the results for more than 4,000 wines entered in 13 U.S. competitions in 2003 and found little consistency in what wines won gold medals.” Our Master of Wine, Antony Foster, followed up on this in an email to me. For the most part, he indicated that he’s in agreement with the article, and that he thinks it would be in our best interest to enter our wines in reputable competitions run under international rules. Good advice.

--Scott Mathis

Algodon Wine Sales, Our Neighbors, and a Gold Medal!

Our Chicago area wines sales are looking good. This week I spoke to our Midwest distributer, Jomada Imports, and was told that we’re selling on average 150 cases (12 pack) of Algodon wines on a monthly basis…that’s 1,800 bottles a month. That’s a nice start considering that Algodon Wines are new to the US market and its consumers. Keep up the good work Jomada!

Our neighbor next door to the Algodon Mansion recently finished some exterior construction. It looks good and is a big improvement on what was there previously.

Big olive oil news! Diego Coll Benegas, Algodon Wine Estates’ Director of Project Development, Tourism & Hospitality, just emailed me to say that Algodon Olive Oil won the gold medal in a national competition hosted in Buenos Aires this week. Our gold medal was for the “blended” category. That’s exciting news. I’ve had the olive oil myself, and I have to say that a gold medal comes as no surprise to me. I guess we’ll have to reprint our olive oil’s bottle labels to include: “Argentine judges agree: Algodon Extra Virgin Olive Oil is the best!” We will be serving Algodon Olive Oil at Algodon Mansion.

--Scott Mathis

Algodon Pool Tiles, Clerc for ESPN’s Open Coverage, and Media Mentions…

Get ready for blue tiles and sun- and bring your bathing suits! Algodon Mansion’s rooftop pool will soon be ready! We just received a very special shipment of SICIS mosaic tile, which has been imported from Italy, and our contractors will immediately begin laying the surfacing tile. We’ve all been looking forward to this stage of construction on our roof, as it’s the literal icing-on-top. Algodon Mansion’s pool terrace will also feature teak decks and poolside loungers, as well as an intimate open-air bar and lounge.

Anyone who knows me knows that I love tennis, so it will come as no surprise that I am excited about the US Open here in New York. Even more so because our own José Luis Clerc (Algodon Wine Estates’ Ambassador & Director of the Clerc Tennis Academy) will be covering play-by-play analysis for the Spanish-speaking audiences of ESPN International and ESPN Deportes. Algodon properties gets yet another media mention; Examiner.com’s J.S. Fletcher has given both Algodon Mansion and Algodon Wine Estates a nice write up in this week’s issue, which you can check out here.

In wine news, WineSur.com reported this week that Malbec exports have increased significantly this year. We already know this, of course, because we’ve been hearing about it for the last six months; however WineSur provides a chart detailing Malbec’s major importers. The U.S. is in first place with a whopping 52% of the pie chart.

--Scott Mathis

Algodon Mansion’s Kitchen, and more…

I received word today from Pedro Lagleyze that the mansion’s kitchen has been completed. We’re just waiting for the gas to be connected, after which the operating staff of Chez Nous will move in and start cooking. We’re still waiting on finalizing certain menu items. As I mentioned in an earlier post, I’ll be sure to share the finalized menu soon. You’ll see it both here and in the next newsletter.

I stumbled upon a Brazilian blog that features a write-up of Algodon Mansion. Apparently, even in Brazil we’re getting publicity and getting recognized! The blog (written in Portuguese) belongs to Alexandra Forbes, who regularly writes for Wish Report (the Brazilian equivalent to Robb Report), Vogue, Prazares da Mesa (Brazil’s #1 food magazine), Air Canada’s in-flight magazine and IN (Lan’s in-flight). You can see more about her here: http://www.alexandraforbes.com/. Hopefully we can have her down in person after we’re open.

We are seeing even more articles about the popularity of Argentine wine! The first comes from WineSur.com, and is a brief interview with Napa Valley’s Paul Wagner; president and founder of Balzac Communications & Marketing (a marketing and PR firm representing some of Napa’s most prominent wineries.) Says Mr. Wagner; “Argentinian wines are the new trend and latest fashion; we say that they are "hot" since everybody wants to try them. Malbec's sensory profile is ideal for the Americans' palate since US consumers prefer fruity and easy-to-drink wines. Moreover, prices are competitive and a noticeable growth has been perceived since some years ago.” The second article is from Bloomberg.com and, as the title of the article suggests, is another recession spun piece; New Yorkers Swap Bordeaux for Argentine Malbec as Recession Red. From the article; “These days, people in the Hamptons, a Long Island retreat for financiers and celebrities, aren’t indulging as they used to in high-priced brands…U.S. consumption of Argentine wines is rising as the global recession spurs even the wealthy to hunt for bargains. In the first six months of 2009, imports from the South American country rose 34 percent from a year earlier to $103 million, while mainstays Italy, Australia and France recorded U.S. sales slumps of as much as 30 percent.”

Lastly, on the Argentine economy Reuter’s recently reported that “Argentina can meet its debt obligations this year and in 2010 and a $2.25 billion coupon payment this week proves the government's ability to pay, Economy Minister Amado Boudou said…”

---Scott Mathis

Louis Vuitton, New Cigar Bar, and Canned Truffles…

As I mentioned in my editorial from the most recent “The Algodon” newsletter (and it certainly bears repeating here), Louis Vuitton and Algodon Mansion will be partnering in a joint marketing campaign of sorts, where the French fashion designer will organize a celebrity photo shoot in one of Algodon Mansion's Algodon Royale Suites. We are also scheduled to host private showroom events for Louis Vuitton’s “top buyers” in our restaurant, and possibly in our suites, in the future. We’re very excited to be working with such an esteemed name and talent, and we hope this is the beginning of a lasting relationship.

Evidently the Alvear Palace is opening its own cigar bar. What a great idea; the more the merrier, I say. This beautiful hotel is Algodon Mansion’s neighbor; it is a Buenos Aires staple and has a great reputation of high-end elegance and sophistication. It represents the kind of old-school luxury and hospitality that is so popular in Europe, and which is also very indicative of Recoleta.

With all the Algodon Wine Estates truffle news in recent days, I was happy to stumble upon this consumer website from a Beverly Hills retailer of truffle and gourmet products. This 7 oz. can of truffles retails for $57 USD. That’s not even for fresh truffles; it’s for canned truffles. I think we’re headed in the right direction…

The Financial Times published a great travel piece titled Old Europe in Buenos Aires, which covers a host of tourism attractions and historic places you may be familiar with from visiting there yourself. From the article; “I think Buenos Aires must be the last remaining European city,” a Viennese friend once remarked. Time and distance have left people here with hazy romantic memories of the Europe they left behind.

--Scott Mathis

Mansion Lightwell, Jurado Memorabilia, & Other News…

I received some great photo updates from Pedro Lagleyze (Algodon Mansion’s Construction & Project Manager) recently, including the following shot of the six-story glass partition in the lightwell that descends to the lobby:

In late November (around the time of Algodon Mansion’s Grand Opening), La Indiana Polo Club will host a post-tournament awards and dinner at the mansion’s restaurant, and cocktails will be served at the rooftop pool bar. This particular tournament is called the J.M Baillieu Cup and it coincides with the Argentine Open. We’ll be having a very busy holiday season this year.

Our Manhattan office recently acquired an authentic “International Newsreel” photograph from 1931 of the Prince of Wales and José Jurado. The gentleman were close friends and known golfing compatriots. José Jurado’s grandson originally developed our San Rafael golf course and winery before it became Algodon Wine Estates. Jurado is hailed as the “Father of Argentine Professional Golf”, and is perhaps best known for his losing stroke to Tommy Armour at the 1931 British Open. His famous double bogey was at Carnoustie Golf Club's 17th hole, and is reproduced on Algodon Wine Estates’ course. Jurado appears in the photo on the far right, and the Prince is next to him:

A caption typed on the back of the photo says; “With a matching beret, the Prince of Wales is shown spending his first day back in England, on the Golf Links at Sunningdale. He played with the Argentine Professionals who are in England to take part in the British Golf Championships.” We will most likely be displaying this photo in the new clubhouse.

Bloomberg.com is reporting that Argentina seeks to return to global markets this year after making $2.25 billion in interest payments. “It’s very important to fulfill our obligations, pay the debt so that the country can return to global credit markets before year-end,” Economy Minister Amado Boudou said. Good news for Argentina.

--Scott Mathis

Algodon Mansion bath products, and Buenos Aires makes top 10 again…

It was recently decided that Algodon Mansion’s suites will carry Côté Bastide and Laura Tonatto bath and fragrance products. These are world-class lines that truly fit well and compliment our Buenos Aires mansion, as well as the Algodon brand image. Both distinguished lines have a large international presence and are synonymous with sophistication and elegance. As these small, though essential, details begin to finalize, it forces me to look back on the road traveled to get here, and I am happy by all that we have accomplished. Just a few more months and we can all share a toast to one another at Algodon Mansion’s Grand Opening.

Once again, Buenos Aires has made Travel & Leisure’s “Top 10 World’s Best Cities”. BA is ranked #4 this year (slipping two spots from #2 in 2007 and 2008). The accompanying article touts; “Beyond the “Paris-of-South-America” clichés, this is a city of world-class art, exceptional cuisine, and internationally acclaimed design. After a 2001 crisis battered the nation’s economy and the value of its currency, B.A. became one of the world’s few high-gloss/low-cost travel destinations…”

Finally, there was a great recent article in the New York Times on BA’s “bares notables”. In 1998, the city legislated these “notable bars” (a landmarked status, I suppose) “as the official designation for bars, cafes, billiard halls and confectionaries whose antiquity, architecture or historical significance make them worthy of note and of preservation efforts”. The article details several of these businesses and their unique histories. If you’re making a trip down there anytime soon, be sure to print this one out and take it with you. There are some very interesting places that are perhaps a bit off the beaten tourist track. If you remember, just a few weeks ago I posted about the Times’ take on BA’s Barracas barrio. I’m pleased to see that such a well respected newspaper is continually covering so much of the culture from one of my favorite cities in the world.

Algodon Mansion update, and wine tours

We received a nice Algodon Mansion update from Pedro Lagleyze this week. Some of the highlights include; the installation of the mirrored televisions in the bathrooms; the installation of the lightwell waterfall now that the six-story glass partition has been put up (see last week’s entry); finishing up painting in several suites; and nearly all of the kitchen equipment has been installed. Here’s a photo of the glass ceiling which will cover the outside patio in the dining room:

It looks great. We’re just waiting for the aluminum finishing for it to be complete.

The Wall Street Journal gives its readers some ideas of what to do for summer vacation. Titled “Camps for Grown Ups”, one of their recommendations is to attend a summer Wine Camp in Long Island. The camp “covers the topics of vineyard work, the terroir of Long Island, chemistry of winemaking, blending, and food and wine pairing.” This sounds like our own guided tours and tasting seminars at Algodon Wine Estates. Ours include wine descriptions, terminology and practices. People who take our tour get a detailed tutorial regarding vineyards, planting methods, irrigation, climate, and the manual labor involved in maintaining a successful winery. In fact, if the weather is nice on that day, you can even pick your own grapes. The tasting seminars always end with a platter of smoked cuts, artisan cheeses and olives.

By the way, I’d like to wish everyone here in the U.S. a very happy 4^th of July! Have a great weekend.

--Scott Mathis

Property Updates, Delta Air, and chilled Malbecs and more…

I received some tennis court update photos from our hard working crew in San Rafael. All I can say is wow!

I think this is the first time I’ve ever actually seen a tennis court constructed from scratch. The speed with which this is moving along is very impressive. You can really get a sense from this photo of how unique our tennis center will be; set right in the middle of a beautiful 50 year old olive grove. It’s really going to be an amazing place, and we look forward to our guests playing on those courts in just a few short months!

I also received a great Algodon Mansion update from Gerhard Heusch. The glass for the six-story lightwell (which will include a waterfall descending to the lobby) is now being installed. Here’s picture of them working on it:

This aspect of the Mansion is very unique. Each suite has either door or window access to the lightwell, which offers sky views.

Good news for us in NYC: starting mid December of this year, Delta Air Lines provide flights between New York's John F. Kennedy International Airport and Buenos Aires, Argentina! The flights will operate five times a week!

The Washington Post’s recent article titled “Ah, a Cold, Refreshing ... Red?” talks of the surprising joys of chilled Malbecs on a hot summer day. From the article; “Malbec is very much the red wine of the moment, responsible for a stunning surge of imports into the U.S. from Argentina…Malbec has spicy, black-pepper tastes and we really weren’t sure ourselves how well it would stand up to a chill. The answer: fascinating…With a steak right off the grill or a rare hamburger, it would be hard to beat this taste on a hot day.”

I also found two articles this week regarding the U.S. debt and the weakening dollar. The first is from Yahoo! Finance, and the second The Washington Post. Both are worth the read as the country prepares for next year, and on. This is what I have been saying all along, it is prudent and timely that investors diversify outside the U.S. economy and into global assets. The dollar is still strong against the peso, and Argentine properties remain undervalued.

--Scott Mathis

Truffles, and a lot of press for AWE!

Our bimonthly newsletter came out this week, and if you’ve already checked it out you will have noticed the introduction to our newest potential asset to Algodon Wine Estates; the cultivation of black and white truffles. We’ll have more information on this as the summer progresses, but in the meantime we’re very excited about the prospect and what it could mean for our estate. I believe we’ve already created an extraordinarily unique and very valuable development there in San Rafael, Mendoza, and recent details such as bottling our own estate-grown extra virgin olive oil, cultivating truffles, making some incredible vintages and providing super-recreational championship golf, tennis, and polo only serves to create even more value in worth as well as in reputation.

Also this week, Algodon gets even more full page write ups; this time in the latest issue of Unique Homes magazine. Titled On Location: The Next Napa Valley. It’s available on your local newsstand, open to page 42! Algodon Mansion also appears at the bottom of the page. Unique Homes magazine focuses on luxury real estate, and targets high-end consumers and sellers. It has a circulation of over 70,000 readers and topics covered include “European castles, oceanfront contemporaries, world-class resort properties and luxurious hideaways.” Algodon Wine Estates is also currently featured on the Elite Traveler website, which receives approximately 80,000 hits per month. We also appear in the newsstand copy of the magazine, which has a circulation of 135,000. They focus on luxury travel and target affluent readers throughout the U.S., so this is another great outlet for Algodon! In just a few weeks we’ll be appearing in United Airlines’ in-flight Hemispheres Magazine which has a print run of 250,000, with a readership of 7.5 million! That’s an incredible number! And last but not least, we also appear in 944 Magazine (circulation: 245,000!) on newsstands now. 944 focuses on fashion, entertainment and luxury lifestyles, with separate editions in Los Angeles, Las Vegas, Miami, Orange County, Phoenix, San Diego and San Francisco. Topics covered include health, fitness, nightlife, restaurants, latest styles and trends, music, art, film, interior design and travel. This has been an amazing month in the media for us!

In other news, Harpers Wine & Spirit online magazine tells us that Argentine wine exports are up in volume and value. That great news in today’s economic climate! Of course, Malbec is the most exported varietal accounting for a hefty 28% of the volume.

--Scott Mathis

Polo, Dakar, GM bailout, and Art…

Hola! Nacho Figueras explains the rules of polo in Vanity Fair Magazine. In case you don’t know, Nacho is synonymous with Argentina polo. Nacho was recently our guest for a wine tasting and cocktail reception at Algodon Mansion. (pictured from left to right: Nacho Figueras, Me, Luisa Aldao, German Neuss, Camilo Aldao, and Nacho’s lovely wife Delfina):

Last weekend he and Great Britain’s Prince Harry played the Veuve Clicquot Manhattan Polo Classic, a celebrity attended charity match at New York’s Governors’ Island. The competing teams were Black Watch and Sentebale, and the British team won 6-5. This brings to mind the construction of Algodon Wine Estates’ own twin polo fields scheduled for completion next year. Polo is very big in Argentina, and our Champions’ Club will feature only the best of these types of facilities.

As I mentioned in an earlier post, the Dakar Rally will return to Argentina in 2010. The map of next year’s route is now available online, and it indeed runs right through San Rafael! What a great publicity and promotional opportunity for the city, and in turn Algodon Wine Estates. As you can imagine, the hotel was also fully booked when the rally came through earlier this year.

Argentina’s President Cristina Fernandez de Kirchner announces that the country will use $70 million of nationalized pension funds to provide General Motors (Argentine unit) with a loan to help the automaker finish work on a new car model. Finally, here’s a CNN video link to a report on the Buenos Aires International Art Fair (aka “ArteBA”), which has been called “the hottest art event on the planet”. One gallery owner interviewed explains how the combination of Argentina’s weak peso and the world-wide economic downturn is presenting lucrative opportunities for the county’s artists. Evidently savvy international collectors have realized that Argentina offers world-class pieces of art for unheard-of prices, and they are loading up on these great deals. That’s called “getting in when the getting is good” and similarly-minded people are doing the same with real estate there, obviously.

--Scott Mathis

Much in the news!

I have a lot that I’d like to share with you from a news-filled past week. Our San Rafael Wine Estate appears in New York Magazine’s Special Wedding Issue (honeymoon section), available on newsstands now…and Algodon Mansion’s General Manager, Pablo Veloso, also sent me this pickup of Algodon Mansion in Air France Magazine. You can read more on both of those in the June issue of the Algodon Newsletter.

I came across an interesting article in The Washington Post last week about sommelier Mark Slater (a James Beard Foundation award-recipient for his outstanding wine program) who, when asked what his top seller is, says (a particular brand of) Argentine Malbec; "That stuff flies out of here….I sold 15 cases in a week!" On that topic, a recent WineSur.com article talks about the great potential for Argentine wines in the Asian markets. Evidently reasearch says that fine wine consumption in this sector is expected to grow by 79.3% in the next two years. That’s a remarkable number- the population in China alone is 1.3 Billion.

Here we have good news for you racing fans; AP is reporting that Argentina may be hosting a Formula One race next year, probably in Buenos Aires. Be sure to book your rooms at the mansion.

In anticipation of the French Open, The Wall Street Journal ran this fun tennis piece about the joys of playing on a clay court; “Increasingly, some of the game’s best coaches and tennis officials —even in the normally clay-allergic United States —see mastering the dusty red stuff as crucial to achieving all-around greatness.” Ask anyone who knows me and they’ll tell you that I am a huge lover of the game. I’m looking forward to playing on our clay courts, as well as each of our 2 grass courts and our sunken Grand Center Court that seats nearly 700 people. By the way, here’s a photo taken last week of the land being cleared for the courts’ construction:

Hope everyone is enjoying the nice weather!

--Scott Mathis

Algodon Mansion Update!

Here is a nice update from our architect, Pedro Lagleyze, on the construction progress of our Buenos Aires luxury hotel:

“Scott - As we expected, on Wednesday afternoon we met on the worksite with Gerhard Heusch and the construction company to determine what to do with the existing marble cladding. We came to the decision that we will maintain the existing work and make some adjustments. We also took this opportunity to resolve several outstanding issues.

Regarding current progress, the balance of work form our new main contractor is more than positive. Much progress has been made toward the finishing stages (floor carpentry, equipment carpentry, painting, etc.) during this week, and will continue through the next.

Currently, marble work has been completed on the upper floors and the stucco work is moving along quickly. We’ve already started the wood flooring work, and the painters will come next week. In the spa, we will be working on the completion of the roof in the coming weeks. The marble work is finished there, and the stucco will start this week.

In the basement, work in the service areas is almost finished and the toilets and plumbing are already functional, as are the changing facilities for the staff. Regarding the kitchen, I suppose you're aware of recent changes requested by the chef. Next week we´ll get the final design in order to modify and finalize this sector once and for all. In relation to the area of public bathrooms and offices, once Gerhard and the contractors define the design of the marble, we will be in position to start the task and prepare the site for the arrival of the metal ladder.

The ground floor, as usual in this type of work is more concerned with the general movement of the work. Yet we are moving strongly in its final configuration. In that sense it is very important to define the ceiling to use. The elevators are up and running and only lack the interior design for its implementation.

The façade is finished on the upper floors, and the ground floor work will begin to take place in the coming weeks.

We are working hard and continue with the aim of finalizing the work for August. If we achieve this objective, the balance will be two years of work at a cost per square meter of USD $2,500. Not bad for our unique product in this market. - Pedro Lagleyze, Arquitecto”

Sounds like things are rolling along nicely! We’re almost there…

--Scott Mathis

New Algodon Mansion Website

Our new Algodon Mansion website is up and running, in anticipation of the hotel’s grand opening this Fall. The website design is very sophisticated and polished, and though it only represents a preface of how the website will appear once the hotel has actually opened its doors, it’s still enough for you to get a clear idea of its sleek and elegant design. I feel it represents the concept of Algodon Mansion quite well. As we move closer to our grand opening, you’ll see more and more information, photos, navigational options, etc. that will expand the website’s current sitemap, so keep checking back.

--Scott Mathis

Algodon Mansion Update!

Gerhard Heusch's recent email to me regarding Algodon Mansion’s construction was enlightening and exciting. Here’s a brief summary of the latest accomplishments; the marble in the bathrooms and dressing rooms are almost complete; all of the kitchen equipment has been delivered and has been positioned. Diego Coll Benegas will visit the site this week to check the equipment and oversee its installation; the contractor began the installation of the balcony floors earlier this week; he will begin installing the basement wood flooring next week; a notable, specialized carpenter was recently hired for some intricate woodwork needed on the ground floor, his reputation precedes him and we’re all excited about his addition to the team; our glass contractor has begun work on the light shaft; the rooftop pool is being prepared for tiling; and our stucco/molder contractor is continuing work on the main foyer and has recently begun work on the ground floor elevator hall.

--Scott Mathis

AWE in USA Today & Argentine Wine Imports Are Up!

In case you missed the announcement in our newsletter, we made a recent appearance in USA Today and a few others notable publications including DailyCandy.com, The Buenos Aires Times, MSNBC.com, and The Tampa Tribune. I try my best to keep this online journal as updated as I can regarding these media mentions, and it pleases me to say that some months it’s difficult to keep up because there are so many to report. A great article was forwarded to me recently, in which a California wine importer has reported a 34% increase in Argentine wine imports; “For the last 10 years, we’ve watched the demand for Argentine wines grow year after year…” You can read the full article here. I find articles like this almost on a daily basis. They all seem to say the same thing over and over; which is that despite the global economic slowdown, the Argentine wine industry is booming in the U.S.

More Media Mentions for Algodon!

Algodon Wine Estates had a nice mention in the December ’08 issue of Palm Springs Life in an aritcle called “Wine - Making It Personal (Dig in and taste the winemaker’s life)”. Click here to read the article. The article also mentions our wine barrel program and specificlly talks about other projects or developents that are similar to ours. The closing sentence of the article is great; “All of these options cost a lot less than the millions it takes to open a traditional winery. And…‘It’s fun.’”

We also get a fun Algodon Mansion mention in the January issue of Continental Airlines in-flight magazine. The December issue of the same magazine also features a great article by Ian Mount titled Capital Gains, which is very much worth the read- I highly recommend it.

--Scott Mathis

Algodon Ironworks

I received some photos of the new doors that have been custom designed for Algodon Mansion’s front façade. The ironwork is remarkable, and once the doors have been completely installed, the façade will be nearly complete and Algodon Mansion will be one of the most beautiful structures on Montevideo. That’s saying a lot, because it’s a very beautiful street to begin with. The two new doors are being placed in what were previously windows, which have now been extended to the ground for a symmetrical aesthetic on the ground floor/street level horizon. There will be three, in all, and the doors were designed to match the original ironwork door, which has also been restored to its former beauty. The following pictures show one of the newly installed doors from the interior’s point of view, and then a photo/rendering hybrid of the finished product from the exterior’s point of view. The top image is one we use frequently, and you may already be familiar with it. --Scott Mathis

Happy New Year!

I hope everyone and your families had a great New Year’s Eve! 2009 is setting up to be a spectacular year already. Algodon Mansion is opening, we have new wines and labels, the opening of our 18 hole golf course, a future polo field…and the year has barely even started. Let's get busy, and stay busy! Happy New Year! By the way, I received an email from a colleague vacationing at Algodon Wine Estates over the holiday, which I’d like to include a passage from; “Scott, I am here in AWE – so beautiful! Today there were quite a few golfers, people eating in the restaurant, taking tours of the winery etc. I am doing the Ruta del Vino & checking out Mendoza tomorrow…” That was a good email to get, and a nice way to start the year. Have a great 2009! -Scott Mathis

Hotel Rates in Buenos Aires

Hotel rates in Buenos Aires have risen significantly in just the past few years due to the country’s growing economy and tourism traffic. Our office recently did a study of suite rates of premium 5-star hotels in Buenos Aires to see what the competition is charging. We chose to look at comparable hotels to Algodon Mansion’s 5-star quality suites and amenities, and looked at suite rates from 2005 (when the idea for Algodon Mansion was still just an idea in my head) versus what they go for today. I think this positive illustration says quite a bit about Argentina’s economy. You’ll also notice that all of these hotels have over 100 rooms, and one of them even has over 200. With Algodon Mansion’s boutique status of only 10 very high-end, butler-attended suites, there is no question in my mind that our hotel will have a remarkable reputation for highly personalized services that elevates us above all the rest in Buenos Aires. Here’s what we found, and the following price list is approximated:HotelRateComparison.pdf