US: The Ivy, a new boutique hotel in the Condado district of San Juan, Puerto Rico, has opened its doors.
The 26-key hotel is the result of a $1 million investment by owner Rafal Pagan, who now has a portfolio of three hotels in Condado, including the Wave hotel and the El San Geronimo hotel.
“The value I see in the boutique hotel segment is that the properties have a relatively low ceiling and strong operating margins, and as a result are more resilient during economic downturns. This is a major advantage compared to the larger hotel chains, said Pagan.
The property has a a pool and sundeck, free Wi-Fi and Puerto Rican coffee in every room.
“Despite the challenges that global tourism is going through as a result of the Covid-19 pandemic, in Puerto Rico we confirm the strength and resilience of this economic activity with an aggressive pipeline of new investments in the sector,” said Carla Campos, executive director of the Puerto Rico Tourism Company.
