Puerto Rico’s tourism and transportation industries were quite active in 2012, when a number of hotels opened for business — including the lavish Dorado Beach Ritz Carlton Reserve — and several others broke ground.
If the Puerto Rico government were to walk away from the public-private partnership that turns over the responsibility of managing and operating the Luis Muñoz Marín International Airport to Aerostar Holdings, it would have to compensate the consortium with as much as $8 million for its troubles, according to the 40-year lease agreement signed earlier this year.
Puerto Rico Public Private Alliance Authority Executive Director David Álvarez acknowledged Tuesday that if the Federal Aviation Administration fails to give its go-ahead to the Luis Muñoz Marín International Airport P3, the government would not pursue another such deal.
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