Nearly two years after Hurricane María caused multimillion-dollar damage to El Conquistador Resort, in Fajardo, the local company Royal Blue Hospitality (RBH) bought the island´s largest hotel, confirmed Carla Campos, executive director of the Tourism Company of Puerto Rico (CTPR).

Campos said RBH, which belongs to Puerto Rican company F&R Construction, became the owner of the hotel and all its facilities on July 17, when it completed an agreement with U.S. investment firm Blackstone, owner of El Conquistador under the Hilton Hotels Corp. since 2005 and was looking for a buyer since the hurricane struck the island and caused serious damage to the resort.

With 750 rooms, a water park, a golf course, multiple restaurants and bars, tennis courts and more than 200,000 square feet of space for events, El Conquistador consistently employed between 800 and 1,000 people, making it one of the island’s leading tourist attractions before ceasing most operations after the 2017 hurricane season.

RBH pledged to fully reopen all the famous hotel facilities on or before the end of 2020, but before that, they will have to raise some $175 million to renovate the hotel, find a new manager and secure the endorsement of another large hotel chain since El Conquistador will soon stop carrying the Hilton flag.