Mohari Hospitality Acquires Full Ownership of Peninsula Papagayo, Paving the Way for Long-Term Luxury Destination Growth
Mohari Hospitality, a global investment firm specializing in the ownership, development, and long-term stewardship of luxury hospitality assets, has announced the acquisition of Gencom’s remaining 30% ownership stake in Peninsula Papagayo, making Mohari the sole owner of one of Costa Rica’s most prestigious luxury resort and residential destinations. The transaction concludes a successful decade-long partnership between the two companies and marks the beginning of a new chapter focused on expanding the destination’s global appeal through sustained investment, responsible development, and environmental stewardship.
The acquisition reinforces Mohari Hospitality’s long-term confidence in Peninsula Papagayo as a flagship asset within its international portfolio. By consolidating ownership, the company intends to accelerate strategic decision-making while advancing new hospitality, residential, and community initiatives that will strengthen the destination’s position among the world’s leading luxury resort communities.
Situated along Costa Rica’s spectacular North Pacific coastline, Peninsula Papagayo spans approximately 2,200 acres of tropical forests, dramatic cliffs, pristine beaches, and protected natural landscapes. Over the years, the master-planned destination has evolved into one of Latin America’s most exclusive luxury tourism and residential communities, attracting discerning travelers, investors, and homeowners from around the world.
The peninsula is home to several internationally acclaimed hospitality brands, including the Four Seasons Resort and Residences Peninsula Papagayo, the Andaz Peninsula Papagayo Resort and Residences, and the recently opened Nekajui Peninsula Papagayo, a Ritz-Carlton Reserve Resort and Residences. Together, these world-renowned properties have established the destination as a benchmark for luxury travel, combining exceptional accommodations with immersive natural experiences, wellness offerings, championship-level recreation, and premium residential opportunities.
Beyond its luxury resorts, Peninsula Papagayo distinguishes itself through its unique blend of environmental preservation, sustainable development, and carefully integrated residential communities. Protected forests, wildlife habitats, hiking trails, beaches, marinas, golf facilities, and outdoor adventure experiences are seamlessly combined within a thoughtfully planned environment that emphasizes conservation alongside luxury living.
The ownership transition follows more than ten years of collaboration between Mohari Hospitality and Gencom, during which the partners made substantial investments that significantly expanded and enhanced the destination. Their joint efforts transformed Peninsula Papagayo into one of the most recognized luxury communities in the Americas through a series of landmark projects and strategic developments.
Among the most significant achievements during the partnership was the opening of Nekajui, the first Ritz-Carlton Reserve property in Central America. The ultra-luxury resort introduced a new level of personalized hospitality while further elevating Peninsula Papagayo’s international profile.
The partnership also delivered Papagayo Park, an expansive recreational area designed to encourage outdoor activities while preserving the region’s remarkable biodiversity. Another notable addition was The Outpost at Palmares Preserve, which created unique opportunities for residents and guests to experience Costa Rica’s natural beauty through guided ecological adventures and wellness-focused experiences.
Residential development also expanded considerably throughout the decade. New luxury communities such as Andaz Residences and Four Seasons Private Residences Prieta Bay provided premium ownership opportunities featuring sophisticated architecture, contemporary amenities, and seamless access to the peninsula’s hospitality offerings.
Additional residential neighborhoods, including Bahias and Enclaves, introduced distinctive housing options designed to blend with the surrounding landscape while maintaining privacy, exclusivity, and sustainable design principles.
At the same time, significant renovations and modernization projects were completed at both the Four Seasons Resort and the Andaz Resort, ensuring the properties continued meeting evolving guest expectations while maintaining their leadership within the luxury hospitality market.
These investments have contributed to strong operating performance across the destination. Continued demand for luxury travel experiences, increasing interest in branded residences, and growing international investment have reinforced Peninsula Papagayo’s reputation as one of Costa Rica’s premier tourism and real estate destinations.
The recent acquisition reflects Mohari Hospitality’s belief that the destination remains well positioned for future expansion and continued value creation. With full ownership now secured, the company intends to build upon the momentum generated over the past decade by pursuing additional investments across hospitality, residential development, community infrastructure, and guest experiences.
According to Mohari Hospitality Senior Managing Director Mat Feldman, full ownership provides the company with greater flexibility to pursue its long-term vision while preserving the qualities that have made Peninsula Papagayo internationally respected.
He noted that the company sees substantial opportunities to continue expanding the destination’s hospitality offerings, residential communities, and shared amenities while maintaining the high standards of quality and environmental responsibility that have defined Peninsula Papagayo since its inception. Feldman also expressed appreciation for Gencom’s partnership and acknowledged its important role in shaping the destination’s success over the past ten years.
As part of the ownership transition, Mohari Hospitality will gradually assume full responsibility for asset management, on-site operations, and future development activities over the coming twelve months. The transition process has been carefully structured to ensure continuity for residents, guests, employees, hospitality operators, business partners, and surrounding communities.
Both Mohari Hospitality and Gencom are working closely throughout the transition period to maintain operational stability while preserving the exceptional service standards that guests and homeowners have come to expect.
Donald McGregor, Managing Director for Latin America and the Caribbean at Gencom, reflected positively on the partnership, highlighting the collaborative investments that transformed Peninsula Papagayo into a globally recognized luxury destination.
He emphasized that the partnership successfully combined thoughtful development strategies with world-class hospitality partnerships while maintaining a commitment to quality, sustainability, and long-term value creation. McGregor also expressed confidence in Mohari’s ability to continue advancing the destination’s future development.
Environmental stewardship and community development remain central to Mohari Hospitality’s long-term strategy. Peninsula Papagayo has consistently emphasized responsible tourism and sustainable development, balancing economic growth with conservation efforts that protect Costa Rica’s extraordinary biodiversity.
The destination also serves as one of the largest private employers in the Guanacaste region, creating thousands of employment opportunities while supporting local businesses and regional economic development.
Mohari Hospitality has reaffirmed its commitment to continuing support for Creciendo Juntos, Peninsula Papagayo’s nonprofit organization that has operated for 25 years and works across 19 neighboring communities. The organization focuses on education, healthcare, workforce development, and community programs that improve quality of life for local residents.
The company views these social investments as an essential component of the destination’s long-term success, recognizing that sustainable tourism depends upon thriving local communities and responsible environmental management.
Mark Scheinberg, Founder and Principal of Mohari Hospitality, described Peninsula Papagayo as the company’s very first investment and one of its defining assets globally.
He stated that acquiring full ownership demonstrates Mohari’s enduring confidence in both the destination and Costa Rica as a premier location for responsible long-term investment. He emphasized that the company remains committed not only to expanding hospitality and residential opportunities but also to investing in local people, community partnerships, and the natural environment that distinguishes Peninsula Papagayo from other luxury destinations around the world.
Looking ahead, Mohari Hospitality plans to continue strengthening Peninsula Papagayo through carefully planned investments that enhance hospitality experiences, expand residential offerings, improve recreational amenities, support environmental conservation, and deepen community engagement. With complete ownership now in place, the company believes Peninsula Papagayo is well positioned to enter its next phase of sustainable growth while maintaining its reputation as one of the world’s most exceptional luxury resort and residential destinations.
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