Hyatt signs agreement with Aldesa from Costa Rica

Affiliates of Global Hyatt Corporation and Aldesa Inmobiliaria have announced the signing of a management agreement for Park Hyatt Monte del Barco in Guanacaste, Costa Rica, due to open in 2012.

Friday, December 12, 2008


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The 140-room resort will be located in the bay of Culebra, within the province of Guanacaste on the Pacific coast of Costa Rica, where Aldesa together with US-based resort designing company Winding Road, are developing Monte del Barco, a premier luxury lifestyle estate.

Located approximately 15 minutes from the Liberia International Airport, in one of the tourist zones with the most development potential of Costa Rica and surrounded by spectacular natural beauty, Monte del Barco will feature, in addition to the guestrooms and condominiums, an 18-hole Tom Fazio designed golf course, a selection of world-class restaurants, a beach club, and exclusive facilities dedicated to events and recreation as well.

“Signing this contract to operate the prestigious and recognized Park Hyatt brand at this conjuncture validates Monte del Barco as a project and highlights its potential as a real estate investment”, says Javier Chaves, president of Aldesa Inmobiliaria.

“Costa Rica is among the safest countries in Latin America and has become one of the world’s top destinations with a focus on environmental quality and eco-friendly tourism,” said Pat McCudden, Head of Development for Global Hyatt in Latin America.

“The opening of Park Hyatt Monte del Barco, Hyatt’s first hotel in Costa Rica, is part of Global Hyatt’s initiative to expand its brand presence in Latin America. We are proud to be associated with this development, in an idyllic setting overlooking the clear turquoise waters of the Pacific Ocean. The opening of this property in Central America with Aldesa will
consolidate Hyatt’s presence in the Latin America region, with three brands well represented: Park Hyatt, Grand Hyatt and Hyatt Regency”, added McCudden.

Global Hyatt operates two Park Hyatt properties in South America (in Mendoza and Buenos Aires, Argentina) and will manage Park Hyatt Mexico City – Reforma in Mexico City, due to open in 2011. The company also manages an additional six hotels in Latin American
destinations including Mexico, Chile and Brazil.

More on this topic

Hyatt signs agreement with Aldesa from Costa Rica

December 2008

Affiliates of Global Hyatt Corporation and Aldesa Inmobiliaria have announced the signing of a management agreement for Park Hyatt Monte del Barco in Guanacaste, Costa Rica, due to open in 2012.

The 140-room resort will be located in the bay of Culebra, within the province of Guanacaste on the Pacific coast of Costa Rica, where Aldesa together with US-based resort designing company Winding Road, are developing Monte del Barco, a premier luxury lifestyle estate.

Hyatt to Administer Hotel in Papagayo, Costa Rica

January 2010

Hotel operator Hyatt will manage Andaz Papagayo, a 150-room hotel scheduled to open in 2013.

The agreement was signed between Hyatt and project developer "Hotel Playa Sombrero S.A.".

It will be located in the Gulf of Papagayo, in the province of Guanacaste, and it is the sixth Andaz hotel in the world and the first one in Latin America.

Costa Rica: Monte del Barco Project Selling Lots

January 2011

The real estate developer of tourism projects expects to raise $ 10 million in order to fund construction works in 2011.

Lanzo Luconi, director of Aldesa Investment Fund, the concessionary of the project, said that they still have not defined how many acres will go on sale, as well as the size of the lots.

The Monte del Barco Project in Costa Rica

December 2011

The crisis of 2008 halted the development of the ambitious project in the Gulf of Papagayo tourist hub, and solutions are being sought to maintain it.

The project is owned by Monte del Barco Real Estate Fund, administered by Aldesa Investment Funds.

There is need to resolve the financial situation of the project in order to continue with its development, so solutions have emerged such as the purchase of lots by the same investors in the Fund, which so far has not been successful, and the transfer of part the land to a group of providers in exchange for building the basic infrastructure so as to enable the project to continue.

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