Blue Diamond belongs to the Sunwing Canada Group, which will operate the hotel in Playa Blanca.
After a business dispute, the hotel, which is owned by developer RG Hotels, will change its name from Nikki Beach to Royalton Playa Blanca.
"Sources at RG Hotels expect to expand with Blue Diamond in two more properties in Playa Blanca," adds Prensa.com.
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Nikki Beach severed its ties with a condo-hotel project in Playa Blanca, in the Panamanian Pacific.
The company has initiated legal action against the local promoter, RG Panama Real Estate, said Peter Higney, director of operations, Nikki Beach Hotels & Resorts, Miami Beach.
With an investment of $60 million, the opening of the 6-star, luxury hotel with 300 rooms is planned for 2012.
The condo-hotel project developed by RG Inmobiliaria will feature a casino, a heliport, and a luxury spa, among others. It is already in the pre-sale stage.
According to Prensa.com, Maruquel Gálvez, Representative of RG Realty, said: "We did an architectural and engineering redesign, because when the project was launched in November 2008, we had plans for 156 rooms and it was changed at that time to 300 rooms. The redesign took over six months."
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.
Costa Rica will have two new hotels from the Spanish chain, one in Jacó in late 2010 and the other in Guanacaste in 2011.
The construction of the 150-room Barceló Jacó Beach Hotel is scheduled to open in late 2010 and the 248-room Barceló Playa Azul Hotel in Guanacaste will open its doors in late 2011. They will involve investments of $64.5 million and $237 million, respectively.