CPG Real Estate, based in New York, and the Costa Rican Enjoy Group have acquired the Marriott Los Suenos and Marriott Belen, which until recently were owned by Grupo Cuestamoras.
In a transaction whose amount was not disclosed, the hotel group Enjoy Group and real estate investment firm CPG Real Estate, which owns several hotels in Costa Rica and other countries, announced the purchase of two hotels that were previously in the hands of a company whose main shareholder was Cuestamoras Group.
The current occupancy rate of 57% can be explained by the increased supply of rooms and the relative decline of San Jose as a business destination.
The increased supply of hotel rooms in the capital is one of the reasons for the low level of occupancy, which as of January stood at 57%. This occurs mainly in hotels that attract business travelers or tourists who spend up to two nights prior to departure.
During the first six months of the year 1.32 million visitors entered the country, while in the same period of 2012 it was 1.28 million.
The result is in line with the behavior of the international industry, as globally there was growth on average of about 4% between January and June, said Ruben Pacheco, president of the Costa Rican Chamber of Hotels (CCH).