Purchase of Four Seasons Hotel in Costa Rica

In a transaction whose amount was not disclosed, the U.S. company Gencom acquired the majority of the share capital of the hotel complex Peninsula Papagayo Resort in Guanacaste.

Friday, August 19, 2016

According to a statement released by BusinessWire, the acquisition includes the Four Seasons Papagayo, an 18 hole golf course and clubhouse, the Papagayo Marina and Prieta Beach Club.

Manuel Ardon, COO of the local firm Ecodesarrollo Papagayo S.A., said to Elfinancierocr.com that "... although the purchase includes the aforementioned hotel, the Four Seasons chain still retains a share in the project and will continue as its operator. The addition of this new investor is an extraordinary opportunity to enhance the development of this important project and will undoubtedly have new positive impacts for Guanacaste, the people of Guanacaste and the country."

Gencom was founded in 1987 and is headquartered in Miami, USA. It owns hotel properties in the United States, Europe and the Caribbean. 

See statement on BusinessWire.

More on this topic

Gencom Acquires Andaz Costa Rica Resort

October 2017

In a transaction whose amount was not disclosed, the US-based Gencom acquired the hotel complex Andaz Costa Rica Resort in Península Papagayo in Guanacaste.

The real estate investment and luxury real estate development company Gencom last year announced the purchase of the Four Seasons hotel, also in Península Papagayo.

$20 million Hotel Remodeling

May 2017

The Four Seasons hotel has announced that it will be closing for four months to remodel its facilities in Papagayo in Guanacaste, Costa Rica.

Elfinancierocr.com reports that "...The work will be comprehensive and will include a new look for all areas, including the rooms, lobby and entrance area, fitness center equipment, pool and beach furniture, and new restaurant concepts."

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

July 2014

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. "

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