Hoteles del Cabo, S.de R.L.de C.V., owner of The Resort At Pedregal, released a statement on Friday stating its recent termination of Capella Hotel Group from management of its resort (formerly known as Capella Pedregal) resulted from the alleged improper financial reporting and diversion of revenues through improper fee calculations.
Hoteles del Cabo has instituted legal action to recover the misappropriated funds and will pursue its remedies for other defaults under the management agreement.
“We have spent several months working with Capella Hotel Group to try and resolve the defaults,” said a spokesperson for Hoteles del Cabo. “Specifically, Hoteles del Cabo presented Capella Hotel Group with a letter of notice of default on August 14, 2014, that showed various violations, including unauthorized payments to themselves and false financial reports.”
At press time, HOTELS was unable to gather a response from Capella Hotel Group.