Nicaragua: Good Results From Tourism Incentives

The Coastal Act passed four years ago encouraged tourism and real estate development in the Pacific.

Monday, March 17, 2014

Businessmen claim that the legal certainty provided by the legislation has resulted in more tourism and real estate projects in coastal areas, but there are still a lack of incentives for investment in projects in the Caribbean.

Adiak Barahona, CEO of Gran Pacifica Resort, told Laprensa.com.ni that "the Coastal Act eliminated uncertainty for landowners near the beach and encouraged the building of homes measuring more than 300 square meters."

José Enrique Solórzano, secretary of the Hotel Association of Nicaragua, added that "this law clarifies for future investors what the rules of the game are and that has made a great impact and today we can see the buildings. Hence the importance of making clear rules. "



More on this topic

New Hotel Investments in Nicaragua

February 2013

With an investment of $48 million, three new hotels will be built in Nicaragua, adding 500 rooms.

Along with construction of the Whyndam Milagro del Mar, launched on Thursday, February 21, the 145-room Hyatt Place and a new 105 room Holiday Inn will also be built.

These investments are in addition to the Guacalito Island project, which was recently opened.

Wyndham Hotel Group to Open Hotel in Nicaragua

February 2013

The Wyndham Milagro del Mar Resort will offer 212 rooms on the Nicaraguan Pacific coast in San Diego beach, in Villa El Carmen.

The property will be developed by HB International, and its opening is planned for next year.

This will be the first Wyndham hotel in Nicaragua and its opening is scheduled for 2014, generating nearly 300 local jobs and becoming an anchor project in the Gran Pacifica resort, covering 1,440 hectares with more than four kilometers of beach.

Nicaragua: Restart of Hotel Project Announced

November 2012

In light of a better investment climate, construction has resumed of the luxury oceanfront condominium project, after becoming stalled two years ago.

Milagro del Mar was designed to create an exclusive community within the Gran Pacífica, with 122 condominiums, 20 villas, swimming pools with waterfalls and a pool by the ocean, a gym, a restaurant and a convenience store.

Nicaragua: $30 Million Wyndham Hotel

June 2010

Wyndham Hotels and Resorts formed an alliance with Grupo Mariana to develop a $30 million hotel in the Pacific coast of Nicaragua.

The $30 million, 330-room Wyndham Mariana Resort & Casino will be one of the key centerpieces of the Seaside Mariana Spa & Golf Resort, which is situated on 923 acres with over one mile of beachfront.

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