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Puerto Rican company acquires the El Conquistador hotel

Press ·
Puerto Rican company acquires the El Conquistador hotel
F&R Construction Group · Puerto Rico

The new owners, Royal Blue Hospitality, plan to reopen the resort before the end of 2020

By Gabriel Pacheco Santa – elnuevodia.com

Nearly two years after suffering major damage from Hurricane María, El Conquistador Resort in Fajardo — the island’s largest hotel — passed to local firm Royal Blue Hospitality (RBH), part of Puerto Rican company F&R Construction, Tourism Company executive director Carla Campos confirmed. RBH took ownership on July 17, ending the prior arrangement with Blackstone, which had owned the property under the Hilton flag since 2005. The exact price was undisclosed but estimated in the tens of millions.

RBH, registered under Ángel Fullana Olivencia, F&R’s top executive, committed to reopening all operations by the end of 2020, requiring roughly $175 million to renovate, plus a new operator and hotel-brand endorsement. With about 750 rooms, a water park, golf course, restaurants, tennis courts and 200,000+ sq ft of event space, El Conquistador once employed 800-1,000 people; it was then operating about 230 rooms with around 380 staff. Campos noted F&R’s construction capacity and permitting expertise positioned it well for the renovation.

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