Less than five months after seeking bankruptcy protection, Marina Puerto del Rey in Fajardo has a new owner with big plans on the horizon for its newest Puerto Rico property.
Puerto Rico’s economy will need about $10 billion in new investments over the next three years to grow by at least 3.3 percent annually and find its way back to more prosperous pre-recession levels. In the absence of such an unlikely windfall, it will take more than a decade to circle back to acceptable levels of progress.
The Courtyard by Mariott Isla Verde Beach Resort is turning 10 this year and to mark its anniversary, owner International Hospitality Enterprises is pumping a lot of metal into the property, $11 million to be exact.