Costa Rica: Luxury Resort in Guanacaste

The Swiss equity firm SunVesta Holding AG has announced the start of construction of the Paradisus Papagayo Bay Resort, with an investment of $170 million.

Friday, May 24, 2013

The opening of the new hotel, which will have 381 rooms and will be developed in 21 acres, is scheduled for late 2014 and will be operated by the Spanish chain Melia. reports that "although the company has not disclosed the cost of the investment, the Costa Rican Coalition for Development Initiatives (Cinde) estimated it at $170 million, in May 2011, when the project was announced."

"It is a project that is destined to become one of the best resorts in Central America," said Josef Mettler, CEO of SunVesta.

Meanwhile, Alvaro Tejeda, vice president of the Meliá Hotels of the Americas, said "Paradisus Papagayo will continue the development of Guanacaste as a luxury destination."

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Status of Major Tourist Destination in the Region

January 2015

In the Gulf of Papagayo the government of Costa Rica has already granted 35 areas in concession, which occupy almost 90% of the total area to be developed.

At the moment nine resorts are operating, three are under construction and it is expected that design plans for two more will be submitted this year.

$467 million Tourism Development Announced

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The project consisting of 7 hotels with 855 rooms and condominiums to be built in the Papagayo Peninsula, Costa Rica, will be developed by the Costa Rican company Florida Ice and Farm.

According to a file submitted by the company Florida Ice and Farm (Fifco) to the Technical Environmental Secretariat, the project will require $467 million to be invested in five phases running up to 2022 and includes, in addition to hotels and residences, "... the building of four beach clubs, a community center, an equestrian center, a golf course, lakes and 165.3 acres to be preserved as a private reserve. "

Radiography of a Large Tourism Development

May 2014

The Paradisus Papagayo Bay Resort & Luxury Villa’s under construction in Costa Rica on stabilization of operations would operate as a profitable business, with net income of 35.3% of total revenue.

A report by a swiss capital company, SunVesta Inc., published by the United States Securities and Exchange Commission (SEC) reports on the details and progress of the $190 million tourist resort that the firm is developing in the Gulf of Papagayo in Guanacaste, Costa Rica.

Sol Meliá to Build New Hotel in Costa Rica

May 2011

Paradisus Resorts, Sol Melia ‘s luxury all-inclusive hotel brand has announced the construction of a new hotel in Bahia Papagayo, Guanacaste.

The new hotel, to be called "Paradisus Papagayo Bay", has been incorporated under management contract and is part of the expansion of the brand, which includes the opening of two resorts in Playa del Carmen, Mexico, in November 2011.