Managua Nicaragua Wyndham Hotel
After withdrawing from the Mariana Seaside Project, the Wyndham Hotel Group, the world's largest hotel chain, is back in Nicaragua to announce the opening of its first hotel in the capital, Managua. Today we announce the opening of a new hotel at the Hotel de Nicaragua, a joint venture between the United States and Nicaragua, managed by WyNDham Worldwide Corporation, which owns the Wyindham Hotel Group.
According to the company, the resort, called Seaside Mariana Spa and Golf Resort, will be located near Pristine Bay Resortbebe, a tourism project on Roatan Island, and will have 1,350 units on an area of 923 hectares. It is located in the city of Managua, Nicaragua's second largest city and the closest city to Nicaragua, according to WyNDham Worldwide Corporation. The Pristsine Bay Resort will have a total capacity of 1,200 rooms, a hotel, a wellness and golf course and a restaurant.
Phase II, which is due to be completed in 2015, will see 42 more villas built, according to Keeling, and phase II of Milagro del Mar will see a convention centre for up to 2,000 guests and a hotel with 1,200 rooms. Phase III includes 128 hotel suites, bringing the total project to 212 units, according to the company.
The Gran Pacifica property alone can carry one or two boutique hotels, and probably two more boutique hotels, and that's it, "Keeling said. Keeling hopes Wyndham's decision will encourage other major hotel companies, including Marriott International, Hilton Hotels Group and Wiesbaden Hotel Group, to develop more hotels in the region to create a new central Pacific tourism cluster. The prospects for a strategic alliance are good, as both sides will contribute their core competencies to significant development projects. And the inclusion of WyNDham Alliance offers the opportunity to inject further capital into an exciting Central American real estate market.
The Pristine Bay Resort project being developed in Roatan will have a golf course designed by Pete Perry Dye. The designer of the new golf courses is the same one who also designed the recently opened La Reunion Resort in the Dominican Republic.
So, during the global economic downturn, the owners and developers of Milagro del Mar pushed forward and developed a plan to find an international brand partner to manage the project as a hotel. Keeling said his company began talks with Wyndham in the summer of 2010, expecting Milagsro el Mar to be the first of two WyNDham hotels to be built on Nicaragua's Pacific coast. When we first spoke to each other, they said, "We have two hotels on the coast of Nicaragua and we have the opportunity to have them because we believe the market is there and we have a lot of brands that we want to introduce," Keels said.
The tourism project has already been approved for a syndicated loan of up to $24 million to finance it. The loan, a $2.5 million syndicated loan from the U.S. Department of Housing and Urban Development, began in October 2010, according to a press release from Wyndham Hotels & Resorts.
Milagro del Mar is also working on the improvement and replanting of its golf course, which will be expanded to 18 holes by the end of the second phase in 2015. The Wyndham project will open later this year, according to a press release from the U.S. Department of Housing and Urban Development. In 2010, WyNDham Milagros delMar Resort opened to the public as part of the first international brand hotel in the United States and the second hotel in Mexico. The second hotel, a 1,000-room, $1.5 million four-star hotel with pool, spa and golf courses, will also be the site of a Mariana Spa and Golf Resort on the seafront, set on 923 acres of land and a mile of beach just off the coast of Managua, Puerto Rico's southern tip.