Friday 3 February 2023

Costa Rica Marriott Hotels Has New Owners

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3 February 2023 - At The Banks - BCCR

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Marriott Costa Rica. Photo 5starbed.com

The Grupo Cuestamoras announced the sale of three of its hotel properties in Costa Rica, the Marriott Los Suenos, in Playa Herradura, the Marriott Costa Rica, in Belen, Heredia, and the Hyatt Place San Jose, in Pinares de Curridabat.

In the announcement, Cuestamoras said the Marriotts were sold to CPG Real Estate, based in New York, and the Costa Rican Enjoy Group; the Hyatt to Desarrolladores D506.

The statement cites that the agreement is solely on the property,  the hotels will continue under the operation of the same international companies that have operated them since its inception.

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“Cuestamoras is a company that directly operates businesses, that is the way to exercise our vocation to innovate incessantly. The purpose of the sale is to maintain our strategic focus on the businesses we operate,” said Manuel Zúñiga, Cuestamoras CEO.

Rubén Pacheco, president of Enjoy Group, “… confirmed the purchase of the properties and explained that the operation of hotels will remain with the Marriott chain. For this reason, he added, no changes will be made either in staff or in the administration of these two accommodation centers, one located in Playa Herradura, north of Playa Jaco and the other minutes away from the San Jose international airport.

The sale of the hotels is the second major significant transaction for Cuestamoras this year. In February, the company, owner of the Fischel chain of pharmacies, announced the purchase of the La Bomba pharmacies.

Cuestamors acquired the Fischel, along with the pharmaceutical distributor, Cef, in 2015 from the Chilean company, Sofocar.

Cuestamoras also interests in the areas of urbanism and energy.

The firm is the developer of the Distrito Cuatro, Momentum Pinares (where the Hyatt Place is located) and the Oxígeno project, in Heredia. In the Peninsula Papagayo, in Guanacaste, the company still maintains a presence in the Andaz Península Papagayo hotel project.

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In the area of energy, Cuestamoras has interests in wind and hydroelectric projects, among them, the Orosí project and the Torito hydroelectric plant.

Source: Elfinancierocr.com

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