Status of Major Tourist Destination in the Region

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.

Wednesday, January 28, 2015

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.

Three hotels are expected to start operations during 2015: the Paradisus Papagayo Bay Resort, with an investment of $90 million, the Marriott Papagayo, with $67 million and the Wyndham Resort Papagayo YU, with $22 million. Authorities in the Gulf of Papagayo Tourist Pole pointed out that besides the three projects formal presentation of the designs and the start of procedures to build a hotel and a residential complex is also awaited.

More on this topic

Tourist Projects Schedules Suspended

May 2021

The Board of Directors of the Costa Rican Tourism Institute agreed to suspend the schedules for the execution of works, to all the companies that have a development permit in the Polo Turistico Golfo de Papagayo.

The measure was taken by the authorities to mitigate the effects caused in the tourism industry by the Covid-19 pandemic, informed representatives of the program that is administered by the Costa Rican Tourism Institute (ICT).

Purchase of Four Seasons Hotel in Costa Rica

August 2016

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.

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.

Costa Rica Plans $100 million Resort

January 2016

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.

A statement issued by Aldesa, manager of the Real Estate Development Fund Monte del Barco, states that "...

$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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