A fully serviced residential sanctuary on Culebra Bay, with completion expected in 2029

CULEBRA, Costa Rica, Oct. 21, 2026 /PRNewswire/ — Peninsula Papagayo, widely regarded as Costa Rica’s most exclusive resort and residential community, today announced the groundbreaking of a second neighborhood of 35 oceanfront Andaz Residences on the North Pacific coast’s Culebra Bay. The milestone marks the next step in the long-term vision of Mohari Hospitality, a global investor focused on the development of luxury hospitality assets, which acquired the remaining stake in Peninsula Papagayo earlier this year to become its sole owner.

Bordered by the protected forests of the Área de Conservación Guanacaste, the 35-acre oceanfront Andaz Residences set a new standard for luxury branded living in Costa Rica. Designed as a private residential neighborhood, the enclave sits adjacent to the Andaz hotel and offers seamless access to the full Peninsula Papagayo ecosystem that includes the Arnold Palmer Signature Ocean Course, the members-only Clubhouse at Prieta Beach, and Papagayo Park, a 20-acre sports and wellness hub.

The residences are designed for second home living, offering two-, three-, and four-bedroom floor plans, each with a private plunge pool and most with rooftop terraces framing sweeping views of Culebra Bay. At the heart of the community, the private owners’ clubhouse overlooks the bay and sets the tone for the experience within, including a resort-style pool, fitness and wellness areas, terraces designed for gathering, a flexible lounge, and an upper-level café. Day-to-day life is managed by Andaz Peninsula Papagayo Resort, with a dedicated staff offering 24-hour concierge, valet parking, priority reservations, in-residence dining, housekeeping, and an optional rental program available through Andaz.

Designed by Predock, the acclaimed Albuquerque-based architecture and planning studio, the residences are shaped by their setting. Forms rise from the land’s natural terraces, with cantilevers that echo the curve of the coastline. Materials are raw yet refined: textured stucco, matte glass, and wood-shake roofing, with passive design principles built in from the ground up so that sustainability is woven into the architecture rather than added as an afterthought.

As a private residential neighborhood, the Andaz Residences meet all Costa Rican government site coverage and density requirements, allowing construction to proceed without delay. Priced from under $4 million, the residences represent an exceptional opportunity for an oceanfront, fully serviced home at Costa Rica’s most exclusive address.

To learn more or to schedule a private preview, visit peninsulapapagayo.com/luxury-real-estate/andaz-residences/ .

About Peninsula Papagayo

Located on Costa Rica’s North Pacific coast in Guanacaste, Peninsula Papagayo is Latin America’s premier coastal retreat, spanning 1,400 acres of breathtaking landscapes. This private resort and club community offers a seamless blend of adventure, nature, and sustainability in one of the world’s most biodiverse destinations. The community features Four Seasons Resort Peninsula Papagayo, Andaz Peninsula Papagayo Resort, Nekajui Peninsula Papagayo, A Ritz-Carlton Reserve, the Clubhouse at Prieta Beach, the Arnold Palmer Signature Ocean Course, Marina Papagayo, and an exclusive collection of oceanfront homes and villas. Committed to environmental stewardship, Peninsula Papagayo champions sustainable development, conservation, and community initiatives to preserve Costa Rica’s rich natural and cultural heritage. Just 30 minutes from Guanacaste International Airport (LIR), Peninsula Papagayo is easily accessible via more than 100 seasonal weekly flights from major cities in North America and Europe. For more information, visit: PeninsulaPapagayo.com.

About Mohari Hospitality

Established in 2017 by Mark Scheinberg, Mohari Hospitality is a global investor focused on the ownership and long-term development of luxury hospitality assets. Mohari’s portfolio includes a portfolio of luxury assets at Peninsula Papagayo in Costa Rica, including Four Seasons Resort Peninsula Papagayo, Nekajui Peninsula Papagayo, a Ritz-Carlton Reserve, and Andaz Peninsula Papagayo Resort; Four Seasons Hotel Madrid and the Bauer Hotel in Venice. The firm is also developing new projects in Paris and Miami, and owns a large-scale residential and resort development in Lake Tahoe. In addition, Mohari owns Tao Group Hospitality and Hakkasan Group, and has an ownership stake in The Ritz-Carlton Yacht Collection. For more information, visit www.moharihospitality.com

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 June 30, 2026, 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 Principe 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 Andaz

Andaz hotels are designed for those with a global sensibility. These hotels are grounded in their local surroundings and infused with local culture. Their personalized, attentive service empowers guests and enriches the world around them, leaving a lasting sense of energy and fulfillment. Enjoy World of Hyatt benefits with eligible stays at Andaz hotels – discover more here. 

Media Contacts

Peninsula Papagayo
Danielle Finnegan
Danielle.Finnegan@PPGY.net

Mohari Hospitality
FGS Global
moharihospitality@fgsglobal.com

Forward-Looking Statements

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SOURCE Peninsula Papagayo