Construction is planned to begin in mid-2026, with completion anticipated in 2028
PENINSULA PAPAGAYO, Costa Rica, Feb. 17, 2026 /PRNewswire/ — Peninsula Papagayo today announced plans for a second oceanfront collection of Andaz Residences, following the debut of its initial phase in 2023. The new neighborhood near Andaz Peninsula Papagayo will feature 35 thoughtfully curated residences in two-, three-, and four-bedroom floor plans with elevated amenities and finishes. Early commitments from existing owners have already been secured ahead of the public release, a reflection of the neighborhood’s resonance and the Andaz brand’s appeal.
This collection of Andaz Residences is developed by Mohari Hospitality and Gencom, and designed by Predock, renowned for seamlessly integrating surrounding landscapes and local cultural heritage. The gated residential enclave is envisioned to celebrate the interplay between architecture and nature, offering expansive indoor–outdoor living spaces and private plunge pools. Most homes will feature private rooftop terraces that blur the distinction between indoors and out, framing sweeping, uninterrupted views of Culebra Bay. Each home will be serviced and managed by Andaz Peninsula Papagayo.
With the addition of a standalone oceanfront neighborhood, this new chapter of Andaz living offers heightened privacy and independence while maintaining effortless connection and proximity to the Andaz Peninsula Papagayo Resort, and amenities and lifestyle of Peninsula Papagayo. A private owners’ clubhouse will include ocean-view terraces, a resort-style pool, fitness and wellness areas, co-working lounges, and an upper-level retreat serving light fare and refreshments.
Owners may participate in an optional rental program and club membership, providing exclusive access to the members-only Clubhouse at Prieta Beach, the Arnold Palmer Signature golf course, and Papagayo Park, a 20+ acre sports and wellness hub, which opened earlier this month.
“Early interest from current homeowners has generated exceptional momentum,” said Francesca Poddie, Peninsula Papagayo’s Chief Operating Officer and EVP of Development. “The new Andaz neighborhood is a direct response to the demand – advancing the success of our first phase, the debut of Papagayo Park, and the continued transformation of the Andaz Peninsula Papagayo experience into something truly extraordinary.”
“This project reflects the growing demand we see for Andaz-branded residential living in one-of-a-kind destinations,” said Tina Necrason, Global Head of Branded Residential at Hyatt. “Owners at Peninsula Papagayo will enjoy the innovative design, connection to place, and intuitive service that define the Andaz brand.”
The announcement follows a series of enhancements at Andaz Peninsula Papagayo Resort, including reimagined guestrooms and suites to better serve multigenerational families and extended-stay guests, a new Beauty Bar at Onda Spa and Wellness, expanded movement and martial arts programming at the Dojo, an enhanced live music schedule at Chao Pescao, and the launch of Gaio, a trattoria-style restaurant. Work is also underway on a significant expansion of Casa de Playa, the peninsula’s oceanfront beach house retreat, which will introduce a new family pool area, expanded sunbed capacity, all-weather dining, an oceanfront bar, upgraded cabana service, and enhanced recreation amenities.
The new Andaz neighborhood coincides with the arrival of the new resort General Manager, Markus Laahanen. A Finnish Portuguese hotelier, Laahanen brings more than two decades of experience in luxury resorts and mixed-use projects across Europe, the Caribbean, Mexico, and the Maldives, including senior roles at Nizuc Resort and Spa in Cancún, Camiral Golf and Wellness in Spain, and Costa Navarino in Greece.
The new Andaz Residences at Peninsula Papagayo are priced from under $4 million. Details at peninsulapapagayo.com/luxury-real-estate/andaz-residences/.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of December 31, 2025, the Company’s portfolio included more than 1,500 hotels and all-inclusive properties in 83 countries across six continents. The Company’s offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX®, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid® Hotels & Resorts, Bahia Principle Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Unscripted by Hyatt, Hyatt Place®, Hyatt House®, Hyatt Studios®, Hyatt Select, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
About Mohari Hospitality
Established in 2017 by Mark Scheinberg, Mohari Hospitality is a global investment firm specializing in luxury properties and lifestyle hospitality. With a diverse portfolio spanning premier destinations across Europe and the Americas, Mohari is dedicated to delivering exceptional guest and dining experiences. The firm’s investments include a portfolio of luxury assets operating under iconic brands, including the Four Seasons Madrid; Peninsula Papagayo’s Four Seasons, Ritz Carlton Reserve, and Andaz Resort & Residences; and the Ritz-Carlton Yacht Collection. Additionally, Mohari owns Hakkasan Group, a global leader in modern Asian dining, and Tao Group Hospitality, a world-renowned hospitality company delivering distinctive culinary and premium dining and entertainment experiences. For more information, visit: www.MohariHospitality.com.
About Gencom
Gencom is a U.S.-based investment firm that owns, operates, and develops prized real estate around the world with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott, and St. Regis. Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate, Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.
For more information, visit: Gencomgrp.com.
Contact:
Danielle Finnegan, Director of Public Relations
Danielle.Finnegan@PPGY.net
+1 786-813-5597
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Mohari Hospitality’s or Hyatt’s control, which could cause actual results, performance, or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication, and neither party undertakes an obligation to publicly update any of these forward-looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements are updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.
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SOURCE Peninsula Papagayo
