BLP advised the shareholders of Inversiones Turísticas Arenal S.A., owner of the renowned Tabacón Thermal Resort & Spa located in La Fortuna, Alajuela, on the sale of 100% of the company’s shares to Pursuit Attractions and Hospitality, Inc. This transaction marks the entry of a new institutional player into Costa Rica’s tourism sector, reinforcing confidence in the country as a top-tier destination for international investment.
Nestled in the heart of the Arenal region, Tabacón spans more than 230 hectares of rainforest and boasts the largest network of natural hot springs in the country. The resort features 105 luxury rooms, a world-class spa, and a notable culinary offering. The transaction also included Choyín Río Termal, an adjacent attraction that broadens access to the thermal river. Tabacón holds a five-star rating from the Costa Rican Tourism Institute (ICT) and the highest level of sustainability certification (Nivel Élite).
BLP provided comprehensive legal counsel throughout all phases of the transaction, including negotiations with potential buyers, the legal due diligence process, structuring of the transactional framework, and the drafting and negotiation of the share purchase agreement.
This was a highly complex transaction that demanded strategic solutions and meticulous management at every stage. BLP assembled a multidisciplinary team whose involvement was key to the successful closing.
The transaction was led by Partner Eduardo Calderón, with the support of Director Elia Naranjo and Senior Associate Aurora Solís.
Also participating in the due diligence process, review of closing conditions, and competition matters were: Mauricio Salas, Uri Weinstok, Luis Palacios, José Pablo Rojas, Alejandro Rojas, José Pablo Miranda, Vittoria Di Giacchino, Randall González, and Alexandra Aguilar. The joint efforts of both teams were essential to the success of the project.
Our team in this transaction
- Eduardo Calderón – Partner, Costa Rica – Email
- Elia Naranjo – Director, Costa Rica – Email
- Aurora Solís – Senior Associate, Costa Rica – Email
- Mauricio Salas – Partner, Costa Rica – Email
- Uri Weinstok – Partner, Costa Rica – Email
- Luis Palacios – Director, Costa Rica – Email
- José Pablo Rojas – Director, Costa Rica – Email
- Alejandro Rojas – Partner, Costa Rica – Email
- José Pablo Miranda – Senior Associate, Costa Rica – Email
- Vittoria Di Giacchino – Director, Costa Rica – Email
- Randall González – Partner, Costa Rica – Email
- Alexandra Aguilar – Director, Costa Rica – Email