Costa Rica’s hotel market is preparing for another wave of growth, with the Costa Rican Tourism Institute confirming 17 new tourism projects tied mainly to lodging and representing about $391.8 million in investment. The projects are expected to add 1,493 rooms nationwide between 2026 and 2027, with Guanacaste leading the list. The northern Pacific province accounts for six of the 17 developments and 719 rooms, or nearly half of the new hotel capacity now on the books.
The figures point to a clear trend in Costa Rica’s tourism market. Investment is concentrating in areas with strong air access, established luxury demand, and large-scale resort development already underway. Guanacaste, led by the Liberia airport corridor and the Papagayo region, has become the country’s strongest magnet for hotel capital.
Among the larger projects listed are JW Marriott All Inclusive Costa Elena in Guanacaste, with 415 rooms and a projected opening in May 2027, and the Moxy Hotel AIJS in Alajuela, with 173 rooms and an estimated opening in April 2027. Other projects include AC Marriott Liberia, with 140 rooms and a planned opening later this year, and Hotel Nayara Manuel Antonio in Puntarenas, with 62 rooms.
Alajuela, Puntarenas, Heredia and San José are also part of the expansion, showing that hotel investment is not limited to beach areas. Still, the balance remains heavily tilted toward Guanacaste and the Pacific, where developers are betting on higher-spending visitors, direct international flights, and the continued appeal of Costa Rica as a nature and luxury destination.
The ICT noted that the numbers only include projects with a tourism declaration, a voluntary status sought by investors. That means the figures do not represent every hotel or tourism investment now being developed in the country.
The Guanacaste boom follows the arrival of major luxury names. Nekajui, a Ritz-Carlton Reserve, opened in Peninsula Papagayo as one of the region’s highest-profile projects, while Waldorf Astoria Costa Rica Punta Cacique added another major international brand to the province’s hotel offering. The Ritz-Carlton property lists Daniel Oduber Quirós International Airport as the closest airport, about 35 kilometers away, reinforcing the role of Liberia’s airport in the province’s growth.
Tourism leaders say Guanacaste’s lead is tied to several factors: direct air access, a deepening base of high-end hotels, nearby beaches and protected areas, and services that support luxury travel. The Daniel Oduber airport has helped turn the province into a gateway for travelers who want to avoid routing through San José and move directly into beach and resort areas.
The investment also comes after strong foreign direct investment in tourism. Costa Rica recorded $385.6 million in tourism-related foreign direct investment in 2025, the second-highest figure in the past eight years, behind only 2024. For Costa Rica, the hotel pipeline is good news, but it also raises a familiar question: how to spread tourism investment more evenly across the country.
ICT director Gustavo Alvarado said the country needs to keep pushing investment beyond the Greater Metropolitan Area and into regions with high tourism potential. The ICT has also moved to widen access to incentives under the Tourism Development Incentives Law, including for smaller hotels and projects outside the country’s most established tourism zones.
The challenge is not only attracting more hotels. It is making sure growth does not become too concentrated in a handful of destinations while other regions with strong tourism potential remain underdeveloped. Areas such as the South Pacific and Limón have long been viewed as having room for more investment, but they face issues tied to infrastructure, air access, permitting and investor confidence.
The expansion also comes as Costa Rica faces stronger regional competition for tourists. El Salvador has gained attention for lower prices, improved security perceptions and aggressive tourism investment, adding pressure on Costa Rica to protect its position as one of Central America’s leading travel destinations.
For now, the numbers show that investors still see Costa Rica as a strong tourism bet. Guanacaste is leading that charge, but the next test will be whether our country can turn new hotel investment into broader regional growth without losing the environmental and service standards that helped build its tourism brand in the first place.
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