It has already been a big year for multimillion-dollar hotel plans in Costa Rica, and now the international Ramada hotel chain has thrown its hat into the ring with the announcement of its $45 million Ramada Resort and Residences Jacó Beach, with construction scheduled to begin on the Central Pacific coast later this month.
The project includes a four-star, 72-room resort and 228 apartments, according to a statement from Costa Rican company Grupo Zeta, for whom the project represents its first investment in the tourism sector.
It’s also the first time Ramada has lent its name to a residencial complex, according to Grupo Zeta Real Estate Marketing Manager Alvaro Valverde.
The first phase of construction, scheduled to begin in October, will include the hotel – which will feature two pools, wireless Internet, air-conditioning, a conference room, a spa and fitness center, a bar and restaurant, and a business center – as well as two 10-story towers with 38 apartments each.
Four more towers will be raised during the second phase of construction, with all construction complete within four years, the statement said.
The residences will be affiliated with Resort Condominiums International (RCI), an international timeshare network.
Through RCI, purchasers of Ramada apartments in Jacó will be able to exchange a stay there for a stay in other resorts around the world, according to a point system. Owners will also be able to rent out their apartments when not in use.
Grupo Zeta expects $80 million in sales during the first years of operation, with 150 jobs created by the first phase of construction.