SunVesta Holding AG
BREAK GROUND ON SUNVESTA’S FLAGSHIP REAL ESTATE DEVELOPMENT PARADISUS PAPAGAYO BAY RESORT & LUXURY VILLAS, GUANACASTE, COSTA RICA (with additional features)
SunVesta Holding AG / Key word(s): Strategic Company Decision Press Release BREAK GROUND ON SUNVESTA’S FLAGSHIP REAL ESTATE DEVELOPMENT PARADISUS PAPAGAYO BAY RESORT & LUXURY VILLAS, GUANACASTE, COSTA RICA New five star all-inclusive luxury resort is scheduled to open Last Quarter 2014 Oberrieden/Zurich, Switzerland (May 28, 2013) — SunVesta Holding AG, a Swiss based Private Equity and Real Estate Development group, represented by their Costa Rican development company SunVesta Costa Rica Ltd. and its property companies Richland Investments Ltd. and Altos del Risco S.A., broke ground today on the development of their new flagship real estate development in Papagayo Bay, Costa Rica, scheduled to open Last Quarter 2014. The development is made in close cooperation with Paradisus Resorts, the five star all-inclusive luxury hotel brand owned and operated by Meliá Hotels International. The new build, aptly named Paradisus Papagayo Bay Resort & Luxury Villas supersedes the former Paradisus Playa Conchal in Guanacaste operated by the brand until April 30th, 2011. The new resort is part of the brand’s master expansion plan, which included the opening of three Paradisus properties in Mexico; Paradisus Cancun in December 2012 in addition to two resorts in Playa del Carmen, Paradisus La Perla and Paradisus La Esmeralda in November 2011. The new portfolio aims to solidify Paradisus Resorts as a leader in the luxury all-inclusive market segment, capitalizing on the tremendous recognition the brand has in the region, due largely to the 17 years of experience in Costa Rica, while building significant equity on Paradisus’ behalf. ‘SunVesta is thrilled to be partnering with Paradisus Resorts on this project, where we will combine high-end luxury with a sustainable eco-friendly development concept, resulting in a world-class eco-luxury resort with the highest service standards,’ commented Josef Mettler, CEO of the SunVesta Group. ‘We believe in investing in prime locations and working with the best companies to achieve the best ecological and financial results, and this project couldn’t be a better example of our credo. It’s a truly exceptional project and will be a flagship in our real estate portfolio. It is destined to be one of Central America’s premier resorts.’ Located on the Northern Province of Guanacaste, Paradisus Papagayo Bay is being developed on 21 hectares of dramatic landscape, complying with all five star resort specifications. The 382-room eco-luxury resort’s design cascades to the beach below on one of the world’s most stunning bays. Featuring breath-taking views from virtually any location on the property, its nine restaurants and eight bars and the Gabi Beach Club will provide guests with multiple settings in which to enjoy food and beverage while admiring the region’s natural beauty. The resort will boast many of Paradisus’ brand assets including a YHI Spa and Health Club, and the renowned adults-only ‘Royal Service’ level of accommodations and the ‘Family Concierge’ program. In addition to amenities that cater to the leisure guest, the Paradisus Papagayo Bay & Luxury Villas will also feature 19,000 square feet of meeting facilities with the business traveler in mind. ‘The introduction of the Paradisus Papagayo Bay Resort & Luxury Villas to the Costa Rican market is the ideal opportunity to continue elevating Meliá Hotel International’s portfolio, while embodying the vision of our brand as a hospitality leader in the luxury all-inclusive sector,’ said Alvaro Tejeda Schroeder, VP for Meliá Hotels International in the Americas. ‘We had tremendous success as pioneers with Paradisus Playa Conchal and the superior product Paradisus Papagayo Bay brings to the region will continue the brand’s successful development of Guanacaste as a luxury destination.’ Paradisus Resorts is known for exuding sophistication and luxury prides itself on the no-hassle, premium service upscale vacation experience. For additional information, contact: Dynamics Group
About Paradisus Resorts About Meliá Hotels International
End of Corporate News +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=BCPXFKLLPP Document title: Sunvesta 28.05.2013 This press release was distributed by EQS CORPORATE COMMUNICATIONS. www.eqs.com – news archive: www.eqs.com/ch/presskit The issuer is responsible for the contents of the release. |
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