The ground-breaking ceremony for the first AC Hotel by Marriott in San Juan took place earlier at 1369 Ashford Avenue, a privileged location within the active and progressive Condado Area.
Ashford 1369 Hospitality, an affiliate of Interlink, acquired the former Radisson Ambassador Plaza & Casino.
A comprehensive renovation of the property will take place to convert it into the sophisticated and contemporary Marriott International brand.
The site’s upgrade will be lead and performed by Interlink Construction for an estimated total investment of $45 million including the acquisition, renewal and opening of the AC Hotel San Juan.
Banco Popular de Puerto Rico and the Hotel Development Corporation provided the project’s financing.
Founded in 1998 by Antonio Catalán, AC Hotels has properties located throughout Europe, Mexico and the United States.
AC Hotels and Marriott formed a joint venture in 2011, leveraging the unique style and design of these upscale urban-inspired hotels with the portfolio power and distribution of Marriott International.
AC Hotels by Marriott celebrates the beauty of classic modern design born of its Spanish roots and European soul.
The new hotel has established a long-term franchise agreement with Marriott International and a management operation agreement with Highgate Hotels; one of the leading operators in the industry.
The hotel’s opening is scheduled for the first quarter of 2017.
“We are very excited with this new venture which continues to grow our special relationship with Marriott,” emphasised Federico Sánchez-Ortiz, president, Interlink, the AC Hotel San Juan project developers.
“We are confident that the AC Hotel San Juan in Condado will be a key addition to the continued emergence of San Juan as a world renowned tourism destination.”