Wyndham to Manage Westin Rio Mar in Puerto Rico

Wyndham Worldwide Corporation will invest in and manage the 600-room luxury Rio Mar Beach Golf Resort & Spa in Rio Grande, Puerto Rico, under the Wyndham brand and develop an adjacent 26-acre tract as a Wyndham Vacation Ownership timeshare resort.

Wyndham Hotel Management Inc. will operate the resort –currently a Westin- under a 20-year agreement. The hotel will remain a Westin until May 10 when it will be reflagged as the Wyndham Rio Mar. Wyndham Vacation Ownership expects to develop and market luxury timeshare units on the adjacent tract over the next several years.

Wyndham Worldwide is purchasing a partial ownership interest in the resort, owned by Rio Mar Associates L.P. S.E., which is led by affiliates of Tishman Realty Corporation, one of the world’s premier developers and asset managers of first-class hotel and resort properties. Tishman Realty affiliates originally developed and built the resort, which opened in 1996, and continue to co-own it.

The Wyndham Rio Mar is situated on 500 acres along a mile-long section of tropical beach adjacent to the Caribbean National Rain Forest of El Yunque and the Mameyes River.

It features 48,000 square feet of function space, a 7,000- square-foot casino, two world-class 18-hole golf courses, 7,000-square-foot spa and fitness center, 11 restaurants, lounges and entertainment venues, a tennis center, water sports center, and two beach-front pools.

As a result of these transactions, Rio Mar Associates plans a multimillion-dollar redevelopment including a complete overhaul of the casino and an upgrade of the golf courses, hotel lobby and guest rooms. Each room will be equipped with signature brand elements designed by the acclaimed architecture firm Michael Graves & Associates.