Eagle Hospitality Properties Trust, which owns 13 premium-branded hotels including the 299-room Embassy Suites San Juan Hotel & Casino in Isla Verde, announced Monday it has reached an agreement with its secured lender that allows it to sell its portfolio and repay its secured debt at a discount.
Caribbean Property Group LLC, announced Wednesday its transition from financial partner to managing partner and developer of Paseo Caribe, the upscale, open-air waterfront retail and residential neighborhood, overlooking the Condado Lagoon and Atlantic Ocean.
Hoteliers are generally optimistic that 2012 will bring a modest recovery to Caribbean tourism arrivals, but at a recent conference in San Juan, there was plenty of grumbling that for too long, hotels have been shouldering an unfair tax burden when compared to the cruise industry.
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