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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More on this topic

New Luxury Resort in Costa Rica

September 2014

An announcement has been made of the 2015 opening of a hotel complex containing 151 rooms by Wyndham Resort Papagayo Yu, in Playa Panama, Guanacaste.

From a statement issued by the Wyndham Hotel Group:

Wyndham Hotel Group, with approximately 7,540 hotels and which is part of Wyndham Worldwide Corporation, announced today the signing of a franchise agreement for the first resort in Costa Rica of the luxury brand Wyndham Hotels and Resorts, the Wyndham Resort Papagayo Yu in Guanacaste.

The Monte del Barco Project in Costa Rica

December 2011

The crisis of 2008 halted the development of the ambitious project in the Gulf of Papagayo tourist hub, and solutions are being sought to maintain it.

The project is owned by Monte del Barco Real Estate Fund, administered by Aldesa Investment Funds.

There is need to resolve the financial situation of the project in order to continue with its development, so solutions have emerged such as the purchase of lots by the same investors in the Fund, which so far has not been successful, and the transfer of part the land to a group of providers in exchange for building the basic infrastructure so as to enable the project to continue.

Costa Rica: Monte del Barco Project Selling Lots

January 2011

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

Lanzo Luconi, director of Aldesa Investment Fund, the concessionary of the project, said that they still have not defined how many acres will go on sale, as well as the size of the lots.

Hyatt signs agreement with Aldesa from Costa Rica

December 2008

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.

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Península Papagayo

Organization that operates in Costa Rica and Costa Rica.
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