By Elena Voss · Luxury Developments Editor
Peninsula Papagayo occupies a 1,400-acre private peninsula on the Gulf of Papagayo — Costa Rica's most coveted stretch of Pacific coastline. The Andaz Residences sit within the Four Seasons–anchored master plan and give buyers direct access to the Hyatt rental programme, making this the most institutionally-backed holiday home opportunity in the country.
Developer Track Record
The Peninsula Papagayo master development is managed by the Papagayo Gulf Resort S.A. partnership, which has invested over $600 million in infrastructure since the 1990s — the peninsula has its own power substation, desalination plant, and 18-hole Arnold Palmer golf course. The Andaz hotel, which opened in 2013, has consistently ranked in the top five luxury resorts in Costa Rica on TripAdvisor and achieved AAA Five Diamond status.
The residential programme is managed by Hyatt Residence Club, which handles all rental operations, maintenance, and owner services. Owners receive guaranteed returns under some programmes and access to Hyatt's global points network for reciprocal stays at other Hyatt properties worldwide.
Unit Types and Pricing
- Studios and Junior Suites — From $380,000, pool-adjacent units suited to short-stay investors.
- 1–2 Bedroom Residences — From $650,000 to $1.3 million, with wraparound terraces and Pacific views.
- 3 Bedroom Villas — From $2.2 million, with private plunge pools and butler service through the hotel programme.
Rental programme: Owners can enrol up to 180 nights per year in the Hyatt managed rental pool. Published nightly rates for comparable units range from $450 to $1,800 depending on season and unit size. Net yields after Hyatt fees and HOA typically run 4–6%.
Amenities and Destination Appeal
Residents access the full Andaz hotel amenity suite: three restaurants, two pools, a spa, a water sports centre, and private beach access. The Palmer golf course (shared with the Four Seasons) is a five-minute buggy ride away. Costa Rica's sport-fishing reputation — sailfish, roosterfish, yellowfin tuna — draws high-spend visitors to the area year-round.
The peninsula's private road means no public throughput, and the tight security infrastructure makes it popular with privacy-conscious buyers from North America and Europe. Liberia airport serves the area with direct routes from New York, Miami, Dallas, Houston, and Toronto.
Verdict: Strong choice for buyers who want a branded rental programme and brand-name liquidity at resale. Yields are modest relative to independent management but operational simplicity is unmatched.