$200 Million Investment in Tourism Announced

The Canyon Group plans to invest more than $200 million in the construction of its first resort in Central America, which will be on the Papagayo Peninsula in Guanacaste, Costa Rica.

Thursday, June 20, 2019

Without specifying the start date of construction of the new resort, which will be part of the brand of hotels "Six Senses", the developers of the project reported that the hotel is expected to be ready in mid 2021.

You may be interested in "Central America: $766 million in Tourism Projects

The real estate development will consist of a luxury hotel that will have 41 private villas with their own pool and 31 residences available for sale, in addition to other amenities such as a spa, fitness center and an organic farm.

Although the company that will make the investment is The Canyon Group, headquartered in the United States, the structuring of the project for the construction of the Six Senses Papagayo will be in charge of one of Garnier & Garnier Desarrollos Inmobiliarios, one of its partners in Costa Rica.

Philippe Garnier, president and CEO of the Costa Rican company in charge of structuring the project, explained to Elfinanciero.com that "... As real estate developers of this complex, we will be contributing to tourism and the national economy, with emphasis on sustainability and the generation of employment for the inhabitants of the area.!

According to a report by CentralAmericaData, in 2018 78 environmental impact studies were presented in Central American countries to develop hotels, marinas, clubs and beach residences, and the estimated investment for these tourism projects amounts to about $766 million.

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For the end of 2019, is scheduled the inauguration of Oceana Resort, a hotel complex that will offer 200 rooms and is located on the beach of Iztapa, department of Escuintla.

Oceana Resort + Conventions will be a hotel that will have a total of 22 thousand square meters of construction and will operate under the format of "all-inclusive". The building is located at kilometer 6 of the road from Iztapa to Monterrico.

Real Estate Investment in Nicaragua

March 2018

Construction has started in Tola of a mixed tourist complex estimated at $20 million which includes 12 houses, a four-story tower with 18 apartments and a commercial area.

Travis and Lucas Boychuk, promoters of the tourism project that will be located in Gavilán beach, reported that for the tourism development called "Surf Ranch Hotel & Resort-Emerald Coast Popoyo", they will be building condominiums, apartments, restaurants, an events center, commercial premises, swimming pools, a spa, casino, gym and other amenities.

Central America: $766 million in Tourism Projects

September 2017

In the past 12 months, 78 environmental impact studies were submitted to develop hotels, marinas, clubs and beach residences in Central American countries.

Data from the interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData:  

Costa Rica: New Investment in Hotel Sector

May 2011

About $300 million will be invested in new tourism developments around the country.

The northern part of Costa Rica, one of the most visited by foreign tourists, is destined to have three new hotel projects which have short term development plans.

One of them is Dreams Las Mareas Resort, initially valued at $125 million, to be located on a 1,500 hectare property in La Cruz, Guanacaste.

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