Tandy O. Lofland, Intergroup president, tells GlobeSt.com thatthe high seven-figure renovation on the two hotels will becompleted so the re-branding take effect Dec.1. He says the ParkHyatt Buenos Aires and Madison Resort are long-time clients ofIntergroup, which also has an ongoing interest in the properties.Four Seasons will operate and invest in the Park Hyatt Buenos Airesand Madison Resort plus play a hand in the renovations and work onvacation ownership and luxury residential developments in Carmelo.Intergroup will continue to advise and participate on therenovation and ongoing development of the properties.

Lofland classifies the city high-rise hotel and the luxury villaresort as the best of their class in South America. Thenine-year-old Park Hyatt Buenos Aires contains 165 luxury rooms. Itis situated on land that includes an 1800s mansion that was builtin France and relocated to Buenos Aires.

The 44-villa Madison Resort is located along the Plata River,northeast of Buenos Aires. The full-service, Balinese-theme resortis designed with luxury single-family vacation homes and afractional ownership project.