Ithaca Capital Partners announced that it agreed to acquire the Marriott Courtyard Hotel in Escazu, San Jose. The firm did not disclose the contracted purchase price.
The firm has also agreed to buy the brand’s 145-key location in Santo Domingo, in the Dominican Republic.
Orestes Fintiklis, Managing Partner of Ithaca Capital, stated “We are excited by an investment into two (Costa Rica and the Dominican Republic ) of the fastest-growing economies in the region and we are confident that the quality of the assets and fundamentals of the transaction will generate unique returns.”
The San Jose property comprises 120 key (room), a food & beverage outlet, meeting space, parking spaces, outdoor pool, fitness center and other amenities. The hotel is located in the western suburb of Escazú, along the Próspero Fernández Highway (Ruta 27), and 9 kilometers from the Juan Santamaria International airport (SJO).
In August 2017, Ithaca announced the acquisition of the Trump International Hotel, Panama, a 369 luxurious condo-hotel, with world-class restaurants and conference facilities within a 70-storey tower, the tallest building in Central America and a regional landmark.