Investment fund Caribbean Property Group (CPG) Real Estate headquartered in New York and Enjoy Group from Costa Rica confirmed the acquisition of the Marriott Los Sueños Hotel in Herradura, Puntarenas and Marriott Belén in San Antonio de Belén, Heredia.

Grupo Cuesta de Moras was the main stakeholder of both hotels, they will be releasing additional information to the press later today. Grupo Cuesta de Moras has investments in the health industry with companies Cefa and Fischel and it also has participation in several real estate projects such as Oxígeno (currently under development), Distrito Cuatro in Escazu and the Forum office buildings.

CPG and Enjoy already had joint ventures in Costa Rica, they own Doubletree Resort by Hilton Costa Rica, also located in Puntarenas.

The operation of the hotels will continue in the hands of the Marriott chain, and no changes are expected when it comes to the personnel or administration of both hotels.

Mr. Rubén Pacheco, president of Enjoy Group, stated that CPG and Enjoy had decided to acquire the hotels because of the potential of the tourism industry in Costa Rica, particularly because of the efforts being done to promote the country as an attractive destination for different forms of tourism and the increase of direct flights and airlines in the country.

CPG Real estate has a dedicated investment focus in Latin America and the Caribbean, it was founded in 1998. They own the Dorado Beach a Ritz Carlton Reserve in Puerto Rico, the Aruba Marriott Resort and Stellaris Casino, the Courtyard by Marriott hotels in Costa Rica, Port of Spain, Trinidad & Tobago and Dominican Republic; the Royal Decameron Beach & Golf Resort in Panama and as we mentioned before the Doubletree Resort by Hilton in Puntarenas, Costa Rica.