Hyatt Hotels announces first property in Costa Rica

SAN JOSE, COSTA RICA Hyatt Hotels Corp. will manage a Hyatt Place hotel on behalf of Strategic Hospitality Investments Corp. in San Jose, marking the company’s entrée into Costa Rica.

The 120-key new-build Hyatt Place San Jose Pinares, the second Hyatt Place under development in Latin America, will be part of Momentum Pinares, a mixed-use commercial complex being developed on the east side of Costa Rica’s capital that will include an office tower, a medical building, a movie theater and a shopping mall.

The property, slated to open in mid-2012, will be the first internationally-branded hotel on San Jose’s east side.

“Hyatt is actively looking to grow its Hyatt Place brand throughout Latin America, and we are excited to be working with Strategic Hospitality Investments Corp. on our first Hyatt Place project in Central America,” says Pat McCudden, Hyatt Hotels & Resorts’ senior vice president of development for Latin America and the Caribbean.

Other Hyatt Place hotels are under development in the United States, India and Panama. Hyatt’s current Latin America portfolio includes hotels in Argentina, Brazil, Chile and Mexico.

Strategic Hospitality is part of the hotel division managed by GrupoCuestamoras, which is involved in hotel development in Costa Rica and other Latin America countries. Strategic Hospitality has engaged Sinergo Development Group to develop its hotel portfolio.

Momentum Pinares is being developed through a joint venture with Desarrolladores 506.