New Info Re: Hyatt Hacienda del Mar - Fingers Crossed !

[Beaglemom3]

I am posting this from a message received on the Hyatt board (HyattVacationClub@yahoogroups.com) that I belong to.
I am posting this w/o permission and hope that it is okay to do so. I have notified the OP.

It is an excerpt from a response one of our members received.



"Thought you might be interested in this message that I received last
week after inquiring about the status of the upcoming sale... "(quote from member)


"On July 31, 2008 the new owners of the Dorado Beach and Cerromar sites
announced that they will be building a 6 star Ritz Carlton Reserve
property at Dorado and a 4 star Fairmont Hotel and Casino at the old
Cerromar site. The details of the construction were not revealed. The
plan is to demolish both closed hotels to make brand new properties from
scratch. The service agreement that was in place with the previous
owners calls for access to the Cerromar site and it's amenities. That is
being negotiated with the new owners. Once it is final we will let all
of Hacienda del Mar owners know about the specifics.

Thanks for your patience and I strongly believe that at the end when all
is completed Hacienda will once again be a very spectacular property
with a unique vacation experience to offer for many years to come."

This sounds like progress, finally!

Late edit: Apparently this has been on flyertalk for a while, but I was just notified.

 

[Beaglemom3]

More here:

http://www.caribbeanbusinesspr.com/news02.php?nw_id=191&ct_id=17

 

[Maryman]

This is great news--I've been wanting to get down there for a vacation with the family, but was dissuaded by all of the unsettled development business. Thanks for sharing, BeagleMom!

 

[Beaglemom3]

You're welcome.

As an owner at the HHdM, I have been so troubled with the decline of a once beautiful (Hyat!)resort and its ammenities. The casino and restaurants next door were part of the draw to this resort and then it fell into almost abandonment and neglect.

The past 2-3 years have been full of hopeful anticipation, rumor and worry. The best we could hope was that the Hyatt would rebuild the Cerromar next door to as a 3-4* hotel. Now with the Fairmont name next door and the Ritz just down the road, things are better than wished for.

Will keep you updated on this.


Note:
I bought my Hyatt 1300 pts @ HHdM for ~$3200+closing (took a year - Napoleonic law in PR). Hyatt originally exercsied their ROFR and then reversed themselves.

There are some bargains out there still, but it still is speculative until the Fairmont & Ritz are built.