Braemar Hotels & Resorts has entered into an agreement to acquire the 96-room Dorado Beach, a Ritz-Carlton Reserve, as well as the 14 luxury residential units adjacent to the property in Dorado, Puerto Rico.
Dorado Beach, a Ritz-Carlton Reserve underwent an extensive $78 million renovation in 2018 and offers an array of amenities, including the award-winning full-service Spa Botanico. The spa features an infinity reflection pool overlooking a pineapple garden, tropical outdoor gardens for soaking and indigenous ingredients used in hand-crafted body scrubs and massage. Treatment offerings include massages, body scrubs, men's treatments, facials, masks and other add-ons. Guests can partake in fitness classes, walkable nature trails and apothecary meditation.
The property also includes the TPC Dorado Beach Golf Club, tennis center, the Encanto Pool, an expansive water park for families, food and beverage outlets, an equestrian center and more.
"The acquisition of Dorado Beach, a Ritz-Carlton Reserve is an opportunity for us to acquire one of the most iconic luxury assets in the Americas," said Richard J. Stockton, Braemar's president and CEO. "As the first Ritz-Carlton Reserve in the Americas and one of only five Ritz-Carlton Reserve properties worldwide, this unique property fits perfectly with our strategy of owning high RevPAR luxury hotels and resorts and further diversifies our portfolio."
The acquisition is expected to close on or prior to February 1, 2022.