Luxury hotels in Punta del Este

Luxury Lust: Estancia Vik guest rooms are often filled with North American art lovers in summer.

“Not bad. Not good. Strange.” That’s how Punta del Este hotel and property owners describe Summer 2013 to Ambito’s Leandro Ferreyra.

The strange part is the fact that middle class reservations are down 30% due to Argentine currency controls; however, the most luxurious 4 and 5-star hotels and the most exclusive Punta del Este rental properties are all booked solid.

Now more than ever, Punta is a magnet for the ABC1, and Ferreyra gives a long list of superlatives. “It is a niche of tourism far removed from economic fluctuations that reserves the best suites in 5-star hotels, checks into the most ostentatious chacras with private beaches, stays in the best houses with large, oceanfront pools and chooses the most glamorous condominiums in one of the world’s most exclusive beach destinations.”

Punta del Este hotel reservations are down 10-15% this year, but the impact is weighted at the low-end where 2 and 3-star hotels are seeing a 30% drop in bookings. In contrast, “4 and 5-star hotels in Punta del Este are practically at capacity,” says Fernando Massa, president of the Punta del Este Hotel Chamber.

One broker with properties in Jose Ignacio, La Barra and Punta del Este tells Ferreyra that coastal Uruguay “has been transformed in recent summers as a more cosmopolitan destination filled with Brazilians, Europeans and Americans.” (Full Story in Spanish)

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