Aimbridge Hospitality Acquires El San Juan Resort & Casino
PHOTO: The historic El San Juan Resort & Casino offers proximity to San Juan’s historic El Morro Castle. (Photo by Brian Major)
Aimbridge Hospitality has partnered with Fundamental Advisors LP and León, Mayer & Co. to acquire the El San Juan Resort & Casino, a Hilton Hotel, from Blackstone, the global investment firm, the parties said in a statement. Terms of the transaction were not disclosed.
The 387-room hotel is set along two miles of beachfront in the Isla Verde district of San Juan, Puerto Rico. Built in 1957, the historic property features an 11,000 square-foot grand ballroom, three pools, nine restaurants, 15 active bars, lounges and nightclubs, a 7,500 square-foot casino and 12 acres of beachfront.
The Isla Verde district features upscale boutiques, beautiful beaches and eclectic restaurants, bars, and live music venues. The resort also offers close proximity to San Juan landmarks like the El Morro fortress and the Old San Juan district.
The partners will “significantly enhance the property's offerings and revitalize the storied resort to its original splendor” through “a substantial capital expenditure investment to create a true luxury lifestyle property.”
"With our principals having formerly served as the property's operators, Aimbridge has long appreciated the remarkable vitality of El San Juan," said Dave Johnson, Aimbridge’s president and CEO. "Working with Fundamental and Leon Mayer, we are excited to use our expertise in hotel management to revitalize El San Juan."
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