The company Park Hotels & Resort Inc. is actively seeking to sell the iconic Caribe Hilton Hotel in San Juan. The hotel, which is owned by Park Hotels & Resort Inc. and managed by Hilton Worldwide, is currently listed for sale on the websites of real estate brokers CBRE and JLL.
The hotel boasts several unique features, including a protected beachfront experience, the largest meeting space of any hotel in San Juan, and a recent renovation of more than $160 million. Bloomberg reported in August 2022 that the hotel was being put up for sale for more than $200 million, although the current asking price has not been disclosed.
The Caribe Hilton Hotel, which was inaugurated on December 9, 1949, was forced to close for 15 months in 2017 due to damage caused by Hurricane María. A $100 million investment was required to restore the hotel to its former glory.
The hotel, located near the historic area of San Juan and facing the Atlantic Ocean, features 634 rooms and 18 suites, as well as a variety of dining establishments such as Morton’s Steakhouse, Mojito’s Caribbean Fusion, Rustica Ristorante, and Starbucks.
The potential sale of the Caribe Hilton Hotel represents a significant opportunity for investment and development in the San Juan hospitality and residential industries.