LAS
CROABAS, PUERTO RICO— LXR Luxury Resorts & Hotels, owned by
affiliates of The Blackstone Group, is investing $80 million to improve
and expand the El Conquistador Resort & Casino.
The project is the latest undertaken by Blackstone to enhance one of
the properties it acquired from Wyndham International and subsequently
collected under the LXR banner. On Puerto Rico, Blackstone has already
implemented a major enhancement program at the Condado Plaza Hotel &
Casino.
In addition to remodeling El Conquistador's guestrooms by year-end
2007, Blackstone is investing $32 million to build a 50,000-square foot
ballroom/conference center complex and $12 million to add a water park. In
addition, two new high-speed catamarans are now ferrying guests to the
nearby resort-owned Palomino Island.