A 478-key luxury resort in Aruba has sold for $230 million. New York City-based Belfonti Capital Partners acquired the property from ArubaEnterprises, Nev. The Aruba Resort, Spa & Casino is the largest resort property on Aruba, a small island off the coast of Venezuela. The resort officially opened in 1977 and underwent a renovation in 1992.
“We believe in the very strong economy and tourism trade in Aruba,” says Michael Belfonti, chairman of Belfonti Capital Partners. “We are delighted with this hotel acquisition as we look to expanding on what we hope will become a major asset category for Belfonti Capital Partners.”