‘Reimagined’ Ritz-Carlton in Isla Verde to reopen early next year
The property has undergone more than $150 million in upgrades.
The Ritz-Carlton, San Juan a sprawling beachfront property in Isla Verde, is expected to reopen in early to mid-2025, after nearly eight years, as a “reimagined” property inside and out following a more than $150 million investment in upgrades.
In an exclusive interview with News is my Business, Sam Basu, the newly appointed general manager, confirmed that the luxury property now features an additional suite, bringing the total to 417, while the “back of the house” infrastructure has been fully upgraded.
“It did take a bit of time for us to get here, and there are several reasons behind that,” Basu said. “After Hurricane María devastated Puerto Rico [in 2017], the resort sustained extensive damage. About 65% of the public areas had some sort of damage — water or wind — and a great majority of the rooms and suites.”
“It took us some time to make sure that the renovation plans were done right,” he added. “As you know, Ritz-Carlton is a legendary brand, and we wanted to make sure that we reimagined everything, as it was an opportunity for us to renovate this legendary hotel.”
That reinvention called for integrating local elements, incorporating the “rich heritage and culture of Puerto Rico,” Basu said. All new furniture and fixtures have been purchased and are en route from Miami. “So, toward the end of this year, everything will be accelerated.”
“This hotel is going to be a stunning hotel that we can’t wait to showcase to our guests and the local community,” Basu said.
The recovery efforts included comprehensive mechanical, electrical and plumbing projects, which involved installing efficient air conditioners and cooling towers, LED lighting fixtures, new air conditioning in all guest suites, and backup generators, among other infrastructure upgrades.
“It’s going to be a much more efficient and robust hotel. We felt that was the right way to go about this project because, as we got a brand-new hotel in the front of the house, we also wanted to have a highly efficient, sustainable system with all these elements built in,” Basu said.
While the infrastructure work is about 90% complete, guest rooms are around 70% finished, he noted.
Once operational, the Ritz-Carlton, San Juan will employ between 600 and 700 people to cater to the property’s clientele.
The property will house at least two branded restaurants and a three-meal dining restaurant with fully remodeled kitchens, catering and banquet spaces, and a club lounge, among other amenities and public areas.
The Ritz-Carlton, San Juan will also reopen its 13,000-square-foot casino, featuring approximately 205 slot machines and 16 gaming tables.
‘Tourism has been at its best’
While it is likely to reopen as the high tourism season wraps up in April, Basu emphasized that the hotel’s “competitive advantage is … highly differentiated products and services. The fact is Ritz-Carlton is a legendary brand and the fact is the products and services that we intend to offer are going to be state-of-the-art.”
“If you look at the history of Puerto Rico over the last three years, tourism has been at its best. Year-over-year, we have had occupancy gains and rate gains. We believe that the trend will continue, and it might stabilize at a certain point because you cannot have 4% or 5% growth forever, but we believe that the trend is going to continue,” Basu added.
The Ritz-Carlton, San Juan is owned by Black Diamond Capital Management, which headed the renovation and upcoming reopening.
Stephen E. Deckoff, director of the firm’s Hospitality Investments division, said “Black Diamond Capital Management is proud to support the renovation and reopening of The Ritz-Carlton, San Juan. We have been hard at work to ensure we are developing a premier resort destination, that respects and honors the island’s unique culture and beauty, while setting a new standard for luxury.”
“We believe The Ritz-Carlton, San Juan will flourish, capitalizing on Puerto Rico’s well-earned reputation as a leading vacation destination by setting the standard for luxury resorts on the island,” he said. “Black Diamond will continue working closely with the team on the ground to ensure this iconic property can deliver exceptional experiences for everyone who stays while they visit the Island of Enchantment. We look forward to being part of Puerto Rico’s continued economic recovery and celebrating this moment with the people who made it possible.”
