Dine

What Dine does

DINE, S.A.B. de C.V. is a publicly-traded Mexican real estate developer (BMV ticker: DINE, Series A and B) that has developed large-scale residential, resort, commercial, and corporate projects in Mexico for over 40 years. The company operates a portfolio of five flagship master-planned developments: Punta Mita (Riviera Nayarit, Nayarit), Bosques de Santa Fe (Mexico City), Rinconada de la Estadía (Zona Esmeralda, State of Mexico), Punta Gorda (Los Cabos, Baja California Sur), and Punta Ixtapa (Guerrero), plus completed projects including Centro Comercial Santa Fe and Arcos Bosques Corporativo. Punta Mita is the flagship and dominant revenue engine — a luxury resort community featuring two Jack Nicklaus Signature 18-hole golf courses, three beach clubs, a surf club (El Surf Club), a pier, and two AAA Five-Diamond resorts (The St. Regis Punta Mita Resort and Four Seasons Resort Punta Mita). Within Punta Mita, DINE has launched successive residential enclaves including Las Marietas, Villas Iyari, and Las Vistas Estates (the 18th community).

The business model is centered on one-time real estate sales — residential lots, villas, apartments, and condominiums — delivered under a direct, on-site sales model with pre-sale contracts (preventas). Revenue is recognized upon delivery of the property, while customer advances (Anticipos de Clientes) accumulate on the balance sheet as a forward demand indicator ($1,888M MXN at end-2021, a 2.7x increase from 2020). Ancillary revenue is generated from operating the resort amenities — golf courses, beach clubs, and surf clubs. Disclosed sales figures were $1,987M MXN (2019), $761.2M MXN (2020, COVID-impacted), and $1,279M MXN (2021, a record year); 2022 and 2023 are described as having broken further records though specific figures are not disclosed. The company ended 2021 with $1,690M MXN in cash, $286M MXN in financial debt (net cash position of $1,404M MXN), and $3,925M MXN in real estate inventory.

DINE operates under the corporate umbrella of Grupo KUO following a 2019 reorganization that integrated corporate and executive functions while preserving independent legal and financial status. The company is led by Chairman Fernando Senderos Mestre and Director General Alejandro de la Barreda Gómez (appointed March 2019). Customer base is concentrated in high-net-worth individuals — Mexican nationals and international buyers (notably from the US and Canada) — seeking luxury primary residences, second homes, or fractional/vacation ownership in master-planned destinations with five-diamond resort amenities, branded residential design, and integrated golf and beach club access. Notable strategic partners include Four Seasons Hotels and Resorts, Marriott International (St. Regis), Nicklaus Design, Montage/Pendry (announced July 2023), and community foundations (Fundación DINE Punta Mita, PEACE Punta de Mita).

Name

Dine

Legal name

DINE, S.A.B. de C.V.

Website

https://dine.com.mx

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

DINE is a publicly-traded Mexican luxury real estate developer operating five master-planned residential and resort communities — led by Punta Mita, which contributes 79–90% of sales — targeting high-net-worth Mexican and international buyers with branded resort amenities and Jack Nicklaus-designed golf.

Ownership category

akta.pro rank

Product category

Luxury Real Estate Development

NAICS

Traveler Accommodation (7211), Hotels (except Casino Hotels) and Motels (721110)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Beachfront & Island Luxury Resorts (THAGACAA)

akta.pro secondary industries

Luxury Beachfront & Waterfront Villas (THAMAEAE), Luxury Villa Resorts & Branded Villa Communities (THAMAEAI)

Keywords

• Luxury real estate development
• Master-planned communities
• Resort residential properties
• Vacation home developments
• Commercial real estate Mexico

Headquarters

HQ city

Lomas

HQ country

Mexico

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Real Estate Sales — Residential Units: DINE generates the vast majority of its revenue from the sale of residential real estate inventory, including lots (terrenos), villas, and apartments across its development portfolio. Sales are recognized upon delivery of the property (not at contract signing), as evidenced by the Anticipos de Clientes (customer advance payments) account which grew significantly in record years (e.g., $1,888 million MXN in 2021). The company also earns ancillary income from resort operations, beach clubs, and golf courses within its developments.
2. Resort and Amenity Operations: Revenue is also derived from the operation of resort amenities including golf courses (two Jack Nicklaus-designed 18-hole courses at Punta Mita), beach clubs, and surf clubs. The St. Regis Punta Mita Resort and Four Seasons Resort Punta Mita operate within Punta Mita as five-diamond hotels, contributing to the destination's appeal and indirectly supporting real estate values.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

DINE develops, markets, and sells large-scale luxury residential and resort real estate in Mexico, including master-planned resort communities (Punta Mita), urban residential projects (Bosques de Santa Fe, Rinconada de la Estadía), planned coastal reserves (Punta Gorda), and completed resort destinations (Punta Ixtapa). Revenue is generated primarily through the sale of residential lots, villas, and apartments, with ancillary income from integrated resort amenities such as golf courses, beach clubs, and surf clubs.

Product overview

DINE is a Mexican real estate developer with a portfolio of large-scale projects spanning residential, tourist, commercial, and corporate sectors. The company operates a multi-project platform consisting of both active developments and completed projects. Active developments include Punta Mita (luxury resort community in Riviera Nayarit with residential, hotel, golf, and beach club components), Bosques de Santa Fe (urban residential in Mexico City with golf and amenities), Rinconada de la Estadía (forested residential in State of Mexico), and Punta Gorda (planned coastal reserve in Los Cabos). Completed projects include Punta Ixtapa, Arcos Bosques Corporativo, and Centro Comercial Santa Fe. Within Punta Mita specifically, DINE offers branded residential sub-products such as Las Marietas (42-unit condominium development), Villas Iyari (hillside villas by architect Jaime Barba), and Las Vistas Estates (10-lot first phase collection), alongside amenity offerings including El Surf Club beach club and golf courses designed by Jack Nicklaus. The company also operates Punta Mita Rentals as a vacation rental platform for residential properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Punta Mita Master-planned resort and residential community on the Riviera Nayarit, Mexico. Features two Jack Nicklaus-designed 18-hole golf courses, three beach clubs, a pier, a surf club, wellness activities, and two five-diamond resorts (The St. Regis Punta Mita Resort and Four Seasons Resort Punta Mita). Offers residential lots, villas, and condominiums with ocean or golf course views.
• Bosques de Santa Fe Exclusive residential development in Mexico City spanning over 100 hectares in a canyon setting. Features over 35 hectares of green spaces, a 9-hole Jack Nicklaus-designed golf course, clubhouse with restaurant, gym, pool, soccer and tennis courts. Includes residential towers such as Torre Arbia and Torre Sequoia with units from 525 sqm.
• Rinconada de la Estadía Residential development within the La Estadía residential complex in Zona Esmeralda, State of Mexico. Located within a forested ecosystem, it offers tranquil and secure living in close proximity to Mexico City. Features residences with characteristic DINE design, beauty, and finishes across three phases.
• Punta Gorda 750-hectare planned coastal reserve in Los Cabos, Baja California Sur on the Sea of Cortez. Master plan includes oceanview villas, single-family lots, a private golf course, and beach clubs. Development horizon estimated 2022–2040.
• Punta Ixtapa Residential and resort development in Guerrero, Mexico spanning 39 hectares across two phases. Phase one included completed villas and residential lots; phase two includes 64 apartment units in two separate projects. Inventory fully sold by 2021.
• Las Marietas Condominium development within Punta Mita with 42 residences offering exclusive views of the Marietas Islands and the Pacific Ocean. Features 3- and 4-bedroom options, guest bedrooms, double master suites, infinity-edge pools, elevator access, and underground parking. Residents have access to The St. Regis Punta Mita Resort and Punta Mita Club amenities.
• Las Vistas Estates First phase collection of 10 residential lots within the latest enclave in Punta Mita, located on the south side of Cerro Careyeros. Offers enviable natural landscapes and represents the eighteenth community within Punta Mita, aligned with the low-density plan of the development.
• Villas Iyari Luxury hillside villas within Punta Mita, designed by architect Jaime Barba. Each villa offers four spacious bedrooms with Pacific Ocean views, private pool, ocean-view kitchen, and expansive terraces blending with natural outdoor spaces. Residents enjoy direct access to Playa Iyari via a community beach cabana.
• El Surf Club Beach club facility within Punta Mita offering a unique visitor experience with views of the Marietas Islands, La Lancha beach, and Banderas Bay. Offers quality service in a cozy atmosphere, open to Punta Mita Club members, vacationers, and resort guests.
• Jack Nicklaus Signature Golf Courses at Punta Mita (two 18-hole courses) Two 18-hole Jack Nicklaus Signature Golf Courses at Punta Mita, providing residents and resort guests with world-class golf as part of the master-planned resort community.

Quantifiable outcome

• Punta Mita contributed 90% of DINE's total annual sales in 2021 (record year), up from approximately 46% in 2019.
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Montage and Pendry HospitalitycoreStrategic or Co-development Partner · 12 July 2023DINE announced plans to introduce Montage and Pendry (luxury hospitality brands managed by Hyatt/Park Hotels) as new hospitality offerings within the Punta Mita development. This represents a major strategic expansion of the resort's accommodation portfolio, adding to the existing St. Regis and Four Seasons properties.
• PEACE Punta de Mita (Pars Ecumenical Action for the Community and the Environment)coreStrategic or Co-development Partner · 1 March 2020PEACE Punta de Mita is a community foundation that partners with DINE through Fundación DINE Punta Mita on humanitarian relief, community development, education, and environmental programs. Joint initiatives include the Humanitarian Relief Appeal (food pantry deliveries to 830+ families, 23,600+ food baskets, 280+ tons of food, 300 gas tanks), Connect for Kids (tablets/laptops for 862 children), and the Summer Camp program. DINE's founder/parent Grupo KUO co-founded this organization.
• La ComerminorStrategic or Co-development Partner · 1 January 2019La Comer, a Mexican supermarket chain, partnered with DINE and PEACE Punta de Mita to purchase tablets and laptops for children in the Punta Mita community, supporting home education during the COVID-19 pandemic. A total of 744 tablets and 118 laptops were donated through this partnership.
• Fundación Punta de MitacoreStrategic or Co-development Partner · 1 January 2019Fundación Punta de Mita is a community foundation focused on education, health, community development, and environmental preservation in the Bahía de Banderas region. DINE works with this foundation through annual donations (e.g., $300,000 MXN raised through charity golf tournaments), the Punta Mita Charity Golf event, and the 'Pack for Punta de Mita' school supply drive.
• Punta Mita Hospital FoundationminorStrategic or Co-development Partner · 1 January 2019An annual donation recipient of DINE, supporting healthcare infrastructure and services for the Punta Mita and Bahía de Banderas community.
• Four Seasons Hotels and ResortscoreStrategic or Co-development Partner · 1 January 2019The Four Seasons Resort Punta Mita operates within DINE's Punta Mita development, offering private villas and fractional ownership units under the Four Seasons brand. This partnership brings global luxury hospitality recognition and guest traffic to the Punta Mita community.
• The St. Regis Hotels and Resorts (Marriott International)coreStrategic or Co-development Partner · 1 January 2019The St. Regis Punta Mita Resort operates within DINE's Punta Mita development, providing five-diamond luxury accommodation and personalized services to residents and guests. The partnership enhances Punta Mita's positioning as a world-class resort destination.
• Jack Nicklaus (Nicklaus Design)coreStrategic or Co-development Partner · 1 January 2019DINE's developments feature Jack Nicklaus-designed golf courses: two 18-hole Jack Nicklaus Signature courses at Punta Mita and a 9-hole course at Bosques de Santa Fe. The Nicklaus brand association is a significant competitive differentiator for DINE's resort and residential products.
• Unnamed Real Estate Group (Punta Gorda Joint Venture Partner)coreStrategic or Co-development Partner · 1 January 2019For the Punta Gorda development in Los Cabos, DINE holds 21.9% land ownership and shares 50% of the development and commercialization responsibility with an unnamed major real estate group. This joint venture structure enables DINE to participate in a large-scale Los Cabos development while limiting capital exposure.
• Galaz, Yamazaki, Ruiz Urquiza, S.C. (Member of Deloitte Touche Tohmatsu Limited)minorOthers · 1 January 2019External audit firm for DINE's financial statements. Audits are reviewed by the Audit Committee and filed with the CNBV and BMV. Located at Paseo de la Reforma 505, piso 19, Mexico City.
• Lorena Ocha FoundationminorStrategic or Co-development Partner · 1 January 2019A recipient of funds raised through the Punta Mita Gourmet and Golf event. The foundation focuses on social welfare causes in the local community. $50,000 USD was raised in the 2021 edition of the event.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Rosewood Hotels & Resorts: Luxury hospitality operator with residential and mixed-use components (e.g., Rosewood Mayakoba in Mexico). Comparable to DINE/St. Regis/Four Seasons integration at Punta Mita as a high-end hospitality partner that anchors residential value via service levels and brand cachet.
• Discovery Land Company: Developer of luxury private residential communities (e.g., Playa Grande, Cabo San Lucas; Makena, Hawaii; Baker's Bay, Bahamas) integrating branded hospitality, golf, and beach clubs. Closely comparable model to Punta Mita as a low-density master-planned luxury resort community with gated amenities.
• Hyatt (Montage/Pendry Brands): Montage/Pendry brands are being introduced into Punta Mita (announced 2023). Comparable as the luxury hospitality partner expanding Punta Mita's accommodation portfolio and as a direct competitor in branded-luxury-resort real estate.
• Marriott International (St. Regis / Ritz-Carlton Residences): St. Regis Punta Mita is operated under Marriott's luxury portfolio, and the Ritz-Carlton Residences program competes globally for HNWI buyers. Comparable as both a hospitality partner inside Punta Mita and a competitor for branded-residence capital.
• Four Seasons Hotels and Resorts: Operates Four Seasons Resort Punta Mita and runs a global branded-residence program. Comparable as a partner that co-develops and co-markets luxury residential product alongside DINE's master-planned destinations, and as a benchmark for branded-residence economics.
• Aman Resorts: Ultra-luxury hospitality brand with a growing branded-residence portfolio (e.g., Aman New York, Aman Tokyo Residences). Comparable as a competitor and potential partner for luxury residential enclaves positioned around branded hospitality and lifestyle.
• Grupo Vidanta: Mexico's largest luxury resort and residential developer, with master-planned destinations such as Vidanta Nuevo Vallarta and Mayakoba (now operated by Rosewood/Fairmont). Directly comparable as a Mexican luxury resort residential operator integrating branded hotels, golf, beach clubs, and fractional ownership.

Regional players

• OHLA Desarrollos / IDESA Real Estate: Mexican real estate developers active in resort and urban residential projects. Comparable as regional domestic players in Mexico's large-scale master-planned residential market, though generally with less luxury-resort depth than DINE.
• Aria/Cabo Real Estate Developers (Los Cabos peers): Los Cabos–focused luxury residential developers (e.g., Aria, Club House, Twin Dolphin) competing for the same Pacific coast HNWI buyer pool that Punta Gorda targets. Relevant as the closest competitive set for DINE's Los Cabos expansion.

Emerging players

• One&Only / Kerzner International: Ultra-luxury hospitality brand expanding into branded residences (One&Only Mandarina, Mexico; One&Only Desaru Coast). Comparable as a competitor/partner for HNWI resort residential in Mexico, particularly in Riviera Nayarit where DINE operates Punta Mita.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/DINE.MX
• LinkedInlinkedin.com/company/dinerealestate

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dine