Papagayo Boutique Hotel, LLC

Wayzata, MN 55391, US
Real Estate

Our company, a Delaware LLC, was established to develop, build and operate a 100 unit, 5 star Radisson BLU Resort and Spa in the Papagayo tourist area on the Pacific Coast in Playa Panama, Guaranacaste Province, Costa Rica.

The company will build and operate a 100 unit (80 regular rooms and 20 suites) Radisson BLU hotel overlooking the Pacific Ocean and the Bay of Papagayo in Playa Panama, Costa Rica. In addition to the hotel rooms and suites, the project will have two restaurants/bars, 4,500 square feet of meeting space, and a 4,000 square foot wellness spa. The project will be supplemented by the adjacent 12 unit Residences of 1,700 square feet each, which will be rented through the hotel. $7,500,000 of cash equity has already been invested in the Residences and preliminary hotel expenditures. The company is looking for an additional $22,000,000 in any combination of debt and equity to complete the project. Hotel rates and occupancies are well above average in the Papagayo region, making the projected financial returns from the project substantial. Once the resort and spa are open, cash on total project costs are estimated to be 17-19% annually in an all-cash transaction, and 28-30% annually after debt service if $12 million in debt is used as partial funding. An appraisal of the project, done by one of the largest hotel appraisers worldwide, indicates the property should be worth approximately $44 million once stabilization is reached.

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Prior Year Revenue Current Year Revenue Next Year Revenue
Company Age Employees Sub-Industry
5 years, 4 months 4 REIT - Hotel/Motel

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Luxury Hotel and Spa

The Radisson BLU Papagayo will be a 5 star quality, 100 unit resort sited on 7.5 acres of Pacific oceanview land in the Papagayo tourist region of Guanacaste Province, Costa Rica. The property will have 80 oversized hotel rooms, 10 junior suites and 10 full suites. The hotel will have numerous water features throughout the property, including a 20 foot waterfall serving as a backdrop for some of the suites, a meandering river type swimming pool, to which many of the units will have direct access, a swim up bar for the 100 seat restaurant and 20 seat bar, a 4,000 square foot wellness spa, with 8 treatment rooms, hydrotherapy pools, and medical staff-assisted procedures, and 4,000 square feet of multi-purpose, divisible meeting space. Recreational amenities will include a tennis court,multiple swimming pools and hot tubs, indoor and outdoor fitness center stations and outdoor kitchen and barbeque stations. The entire site will be lushly landscaped with tropical plants and foilage.


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Managing/Manager Executive Officer
R.S. Tripp Snyder

R.S. Tripp Snyder is a 30 year veteran of the hospitality industry, having owned and/or managed over 55 hotels with 9,000+ rooms during his career. He has overseen both massive renovations as well as ground-up construction of both hotels and restaurants. His areas of expertise include strategy, finance, and general operations with an emphasis on cost control. He received his undergraduate degree from Stanford University with honors, and also has an MBA from Harvard University and a J.D. from the University of Denver College of Law.

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Invested Amount:
Individual Investor
Hacienda del Mar

R.E. Heck is the managing partner of the entities developing the Hacienda del Mar planned development. ThePapagayo Radisson BLU Resort and Spa will occupy 7.5 acres of the 84 acre Hacienda development

Invested Amount:
Individual Investor
PRS Family Trust

PRS Family Trust has been investing in hospitality properties since 2010. It is typically a silent investor and primarily is interested in long term appreciation of the assets it holds.



Funding Goal$22,000,000

Funding Raised So Far$7,500,000

Funding Commitments$1,000,000

Funding Remaining$13,500,000

Funding TypeEquity

Pre-Money Valuation

Investor Ownership

Interest / Dividend

Previous Funding

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