Hyatt Corporation and Costa Rica Corporation Hotelera Playa Sombrero form joint venture for the Costa Rica Commercial development of the new Andaz Papagayo in Guanacaste Costa Rica

25/01/2010

Hyatt Hotels and Costa Rican development company Hotelera Playa Sombrero said in a joint statement today that they will form a Costa Rica Commecial management agreement for the new 150-room Andaz Papagayo. The mega hotel is scheduled to open in 2013 and will be located in Península Papagayo, Guanacaste. This 2,223-acre master planned development is located on a jagged pair of peninsulas that slip majestically into the warm waters of the Gulf of Papagayo along the spectacular Pacific coast in the northwest province of Guanacaste. This is a 2000 acre plus fully planned development that is located in the spectacular Pacific coast of rural Guanacaste. Gorgeous white sand beaches and stunning cliffs abound in this pristine environment This is the first time that Hyatt will launch its new Andaz brand in Latin America and a tremendous boost for Costa Rica Commecial.

The Costa Rica Cmmercial project will be housed adjacent to Marina Papagayo. Andaz Papagayo will have a lot of state-of-the-art amenities including several restaurants, a beach club, spa, and full service fitness center. It will be located next to the newly opened Marina Papagayo which has 180 slips, impressive stafacilities, and complete boating services. . There will be an 18-hole Arnold Palmer championship golf course, great world record class fishing in one gorgeous Guanacaste. The nearby marina village will have retail shops and several restaurants as well as Costa Rica Commercial space for rent or sale.

The new hotel will be about a thirty minute drive from Liberia International Airport (LIR), which offers many different flights from several major U.S. gateway cities, including Dallas, Miami, Houston, Newark, Atlanta, Los Angeles, New York and Charlotte. It will be a welcome addition to the expanding inventory of Costa Rica Commercial.