$20M Condado Palm Inn & Suites opens for business
The owners of the Best Western Plus Condado Palm Inn & Suites officially marked the opening Wednesday of the $20 million property that is adding 151 new rooms to the heart of San Juan’s trendy Condado district.
“It’s with great pride that we announce today the opening of the Best Western Plus Condado Palm Inn & Suites. For us at International Hospitality Enterprises and Empresas Ferrer, it’s a pleasure to get together again to rescue a hotel property and give it new life,”said IHE President Jose M. Suárez, referring to the purchase and makeover of the former Diamond Palace hotel that closed down in 2010 after 16 years of operation.
The $20 million investment was floated with a $12 million bond issue by UBS and backed by the Government Development Bank’s Tourism Development Fund, while Condado Palm Partners LLC — comprising IHE and Empresas Ferrer — put up the rest, including a $2 million contribution from the Hotel Development Corp.
The hotel generated 200 jobs in the construction phase and will generate 75 now that it is operational, executives said during a ceremony at the property Wednesday.
“It’s gratifying that, four years after of the previous hotel closed, today we welcome this new 3-star hotel in the heart of Condado, thanks to the vision, effort and trust that IHE and Empresas Ferrer have placed in Puerto Rico’s tourism industry,” said Tourism Company Executive Director Ingrid Rivera-Rocafort.
Best Western Plus Condado Palm Inn & Suites features 151 rooms, of which 33 are suites featuring a kitchenette. The average rate is between $100 and $189 per night, depending on the season and room type. Guests will get complimentary breakfast, as well as Wi-Fi connectivity in all rooms and public facilities.
Hotel amenities include a pool, gym, and meeting and business rooms. The hotel will feature Lounge 55, where it will sell light snacks and beverages.
Miguel Rivas and Omar Suárez have been appointed general manager and sales director, respectively.
The Best Western Plus Condado Palm Inn & Suites is the newest property added to IHE’s local portfolio, which includes the El Convento Hotel, La Concha A Renaissance Resort, Doubletree by Hilton San Juan, Courtyard By Marriott Isla Verde Beach Resort, Copamarina Beach Resort & Spa and Hotel Condado Vanderbilt.