Puerto Rico’s Condado Plaza Hilton Is For Sale
The historic Condado Plaza Hilton in San Juan has been listed for sale, Caribbean Journal has learned.
The 572-room property, which first opened in 1964, is set in the heart of the increasingly hip Condado neighborhood of Puerto Rico’s capital.
It includes 54,000 square feet of flexible meeting space (the largest of all hotels in San Juan), along with eight food and beverage outlets, four outdoor swimming pools, a fitness center and a naturally-protected swimmable beach.
JLL Hotels & Hospitality Group’s Andrew Dickey is the listing partner on the property, which is also available unencumbered of brand and management.
“The Condado Plaza Hilton represents a rare opportunity to acquire a premier beachfront property with value enhancement optionality,” Dickey said. “The recent sale of the nearby San Juan Marriott Resort & Stellaris Casino demonstrates that institutional capital is returning to this market, which has no new supply, exceptional airlift and the best tax incentives in the United States.”
The two-bedroom property is being sold via auction, with a participation deposit of $250,000; Tuesday, June 27 is the indicative bid due date.
— Alexander Britell
