News

Ritz-Carlton Expanding to Panama

By: Caribbean Journal Staff - October 8, 2013

Above: Pearl Island

By the Caribbean Journal staff

Ritz-Carlton will be opening a Reserve property on Pearl Island in Panama, the company announced Tuesday.

The 80-room property, the company’s first in Panama, will be located on a private island called Pearl Island, about 45 miles south of Panama City in the Gulf of Panama. It is projected to open in 2016.

The property will be the latest Ritz-Carlton Reserve in the region, following the opening of the Ritz-Carlton Reserve Dorado Beach. Another Reserve is slated to open in the coming years at Molasses Reef in Turks and Caicos.

Above: Pearl Island

“With an abundant forest environment and stunning beaches with a premium on privacy, Pearl Island is a perfect site for the Reserve experience. Guests will enjoy an exclusive and secluded private location, with a wealth of recreational options to choose from,” said Herve Humler, president and chief operating officer at Ritz-Carlton, in a release. “Pearl Island is a destination that our discerning customers will find extremely appealing, with the coastal serenity and unspoiled natural attractions offering our guests the beauty and privacy they seek in an exclusive getaway experience.”

The island, which is accessible by boat or plane (the latter thanks to a private airstrip), is co-owned by Dolphin Capital Investors and Grupo Eleta.

The company said it would go to lengths to preserve the natural life around the island, from 150 species of birds to 700 species of fish and 15 species of coral. The island is also home to 6,000-year-old archaeological relics.

“We are honored to partner with The Ritz-Carlton in bringing a premium Reserve property to the stunning untouched private island of Pearl Island. It will be the reality of a vision that was inspired by the natural beauty and historical legacy that we wanted to preserve,” said Pierre Charalambides, Founding Partner of Dolphin Capital Investors.

The companies said 70 percent of the acreage on the island would remain “permanently undisturbed.”

The property will also include Ritz-Carlton Reserve-branded residences, along with a marina, a dive and fishing village and a private beach club, among other amenities.

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