PENINSULA PAPAGAYO, Costa Rica, July 18 — Mohari Hospitality (“Mohari”), a global investor focused on the ownership and long-term development of luxury hospitality assets, today announced that it has acquired Gencom’s 30% interest in Peninsula Papagayo, becoming sole owner of the destination following a successful decade of joint ownership.
The transaction reinforces Mohari’s conviction in Peninsula Papagayo, a cornerstone of its global portfolio, deepens its commitment to Costa Rica and positions the destination for its next phase of long-term investment and development under Mohari’s ownership.
Located across 2,200 acres on Costa Rica’s North Pacific coast, Peninsula Papagayo is one of the world’s most distinctive luxury resort and residential destinations. It is anchored by Four Seasons Resort and Residences Peninsula Papagayo, Andaz Peninsula Papagayo Resort and Residences, and Nekajui Peninsula Papagayo, a Ritz-Carlton Reserve Resort and Residences. Its rare combination of protected natural landscape, world-class hospitality, private residences, recreational amenities, and future development potential sets Peninsula Papagayo apart among the world’s leading luxury destinations.
Over the past decade, the Mohari-Gencom partnership has driven significant investment, growth, and transformation across the peninsula. Milestones include the opening of Nekajui, Papagayo Park, The Outpost at Palmares Preserve, Andaz Residences and Four Seasons Private Residences Prieta Bay, alongside extensive renovations of both the Four Seasons and Andaz resort properties. This period also introduced Bahias and Enclaves, two distinctive residential neighborhoods.
The transaction follows a period of strong operating performance, sustained residential demand, and significant investment across the destination, reinforcing Mohari’s confidence in its continued potential.
With ownership consolidated under Mohari, Peninsula Papagayo will continue to benefit from sustained strategic investment in quality, community, and environmental stewardship, priorities that have long defined the destination and will continue to guide its future.
“This transaction enables Mohari to build on Peninsula Papagayo’s strong momentum with a clear long-term vision for its next phase of development,” said Mat Feldman, Senior Managing Director of Mohari Hospitality. “We see substantial opportunity to continue investing across the destination’s hospitality, residential, and community offering, and we are grateful to Gencom for its partnership and important contribution to Peninsula Papagayo’s success.”
As part of the transition, asset management, on-site operational leadership, and development responsibilities will move from Gencom to Mohari over the next 12 months. Both organizations are working closely together to ensure continuity for residents, guests, employees, operators, partners, and the surrounding community.
“We are immensely proud of everything Gencom and Mohari Hospitality have accomplished at Peninsula Papagayo,” said Donald McGregor, Gencom Managing Director for Latin America and the Caribbean. “Working together, we have transformed the destination through thoughtful investment, world-class partnerships, and a shared commitment to quality. We wish Mohari every success as it continues investing in the destination’s future.”
Mohari’s commitment extends beyond the destination itself. Peninsula Papagayo is one of the largest private employers in Guanacaste. Through Creciendo Juntos, its award-winning nonprofit now in its 25th year of serving 19 surrounding communities, Mohari will continue to support investment in education, health, and opportunity across the region.
“Peninsula Papagayo was our first investment and remains one of the defining assets in Mohari’s portfolio,” said Mark Scheinberg, Founder and Principal of Mohari Hospitality. “This transaction reflects our conviction in its exceptional long-term potential, and in Costa Rica as a place for responsible, long-term investment. We remain committed to investing in the destination’s continued development, its people, the surrounding community, and the natural environment that makes it so distinctive.”
Looking ahead, Mohari will continue investing across the destination’s hospitality and residential offering, guest and resident experience, people, community partnerships, and environmental stewardship.