The Fairmont El San Juan Hotel is the top choice in the 2024 World’s Best Awards survey. Travel + Leisure readers have selected five resorts in Puerto Rico for their “private beach access, spacious villas, and impeccable service” in the annual World’s Best Awards survey for 2024. The Fairmont El San Juan Hotel in San […]
The ONE Group Hospitality Inc. announced the signing of a license agreement to open two STK locations in Puerto Rico, within the Condado Vanderbilt Hotel in San Juan.
Two investment groups announced plans this week to shell out a combined total of more than $460 million in separate acquisitions that will significantly strengthen Puerto Rico's status as a high-end luxury resort destination, government officials hope.
Paulson & Co. Inc., a New York-based investment firm, announced Monday it has acquired a majority interest in the Condado Vanderbilt and La Concha Renaissance Hotel and Tower, and the accompanying Condado Vanderbilt condominium towers in San Juan, for $260 million, including costs to complete construction of the Vanderbilt.
News that hedge-fund magnate John Paulson is in talks to buy the Condado duo took the International Hospitality Enterprises, the hotels' developer and operator, completely by surprise but "It's an offer to (IHE's) best advantage," said a source.
Negotiations for the sale of La Concha and the Vanderbilt hotels in Condado to a leading real estate investment group are reportedly underway and could culminate within the next two months, News Is My Business has learned.
The Puerto Rico government is reviewing a request by one of the island's main hotel operators to restructure the loan that helped pay for the renovation of two landmark hotels: La Concha Renaissance Resort & Casino, currently in operation, and the Condado Vanderbilt Hotel, which shut down 15 years ago and reopens on Tuesday in a phased manner.
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