Costa Rica Plans $100 million Resort

The Real Estate Development Fund Monte del Barco has signed a contract with Rosewood Hotels & Resorts chain, to develop a 130 room luxury hotel in the Gulf of Papagayo in Guanacaste.

Friday, January 15, 2016

A statement issued by Aldesa, manager of the Real Estate Development Fund Monte del Barco, states that "... Hotel Monte del Barco will proceed immediately with the architectural design for the hotel with the firm HKS based in Dallas, as well as the arrangements for raising the capital needed for construction, which is estimated at approximately $100 million. "

The contract gives the Rosewood Hotels & Resorts hotel chain a license to operate a 130 room luxury hotel in the Monte del Barco Project located in Culebra Bay, Gulf of Papagayo in Guanacaste.

Javier Chaves, president of Aldesa, said that with "the signing of this agreement and its future financing, the company seeks to revive the project Monte del Barco, at the same time as positioning it as a luxury destination worldwide, with the consequent benefits for national tourism and development in the province of Guanacaste. "

The statement added that "... Founded in 1979, Rosewood is one of the leading brands in the five-star hotel market. It has 6000 employees and operates 18 hotels in 11 countries around the world, 7 of which are tourist destinations or resorts. The chain will grow by about 35 hotels in the next few years, opening up new destinations in Brazil, China, Laos, Thailand, Indonesia and Scotland.With the signing of this contract and future development, Costa Rica will join this select group of Rosewood destinations."

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

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