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Company plans to convert Isla Verde property to branded hotel/casino
Morgans Hotel Group Co. has secured a long-term management contract to run the San Juan Water and Beach Club Hotel in Puerto Rico, and plans to turn the property into a Morgans-branded hotel that would also include a 30,000-square-foot casino. The beachfront hotel, in Isla Verde, has 78 keys.
“San Juan Water and Beach Club Hotel has great potential,” said Marc Gordon, Morgans' chief investment officer. “It's housed in a unique art deco building and sits on a beautiful strip of beach. This deal will allow Morgans to generate income immediately while the owners put together the development to convert the project into a Morgans hotel.”
Morgans Hotel Group operates and owns, or has an ownership interest in, Morgans, Royalton and Hudson in New York, Delano and Shore Club in South Beach, Mondrian in Los Angeles, Scottsdale and South Beach, Clift in San Francisco, and Sanderson and St Martins Lane in London. The group and an equity partner also own the Hard Rock Hotel & Casino in Las Vegas.
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