Chile’s Enjoy Acquires 45% Stake In Conrad Punta del Este

Patrick Archer arts & entertainment, aruba, foreign investment, hotels & casinos, lifestyle, tourism, uruguay

Casinos are big business in Uruguay, and the cash flow in the country’s most lucrative casino proved to be irresistible for one of Chile’s largest gaming companies. Santiago-based Enjoy will pay US$139.52 million to acquire a 45% ownership stake in the Conrad Punta del Este and assume control of the five-star casino currently run by Caesars Entertainment. The agreement gives …

Abandoned Punta del Este Hotel Sells For $10 Million

Patrick Archer foreign investment, hotels & casinos, real estate, uruguay

An abandoned high-rise on Punta del Este’s main drag will be reincarnated thanks to an investor group led by local architect Vito Atijas. Marcelo Gallardo of El Pais says the 17-story property which many locals and visitors remember as the Melia Hotel Punta del Este was purchased for US$10 million. The sale includes the hotel and the adjacent commercial properties …