Wyndham Hotel Management Inc. will operate the resort – currently a Westin® – under a 20-year agreement. The hotel will remain a Westin until May 10 when it will be reflagged as the Wyndham Rio Mar – A Wyndham Grand Resort. Wyndham Vacation Ownership expects to develop and market luxury timeshare units on the adjacent tract over the next several years.

Wyndham Worldwide is purchasing a partial ownership interest in the resort, owned by Rio Mar Associates L.P. S.E., which is led by affiliates of Tishman Realty Corporation, one of the world's premier developers and asset managers of first-class hotel and resort properties. Tishman Realty affiliates originally developed and built the resort, which opened in 1996, and continue to co-own it.

The Wyndham Rio Mar is situated on 500 acres along a mile-long section of tropical beach adjacent to the Caribbean National Rain Forest of El Yunque and the Mameyes River. It features 48,000 square feet of function space; a 7,000-square-foot casino; two world-class, 18-hole golf courses; 7,000-square-foot spa and fitness center; 11 restaurants, lounges and entertainment venues; tennis center; water sports center; and two beach-front pools.

As a result of these transactions, Rio Mar Associates plans a multimillion-dollar redevelopment including a complete overhaul of the casino and an upgrade of the golf courses, hotel lobby and guest rooms. Each room will be equipped with signature brand elements designed by the acclaimed architecture firm Michael Graves & Associates.

The work will bolster capital improvements completed during the last two years including construction of the Mandara Spa and fitness center, guest room renovations, enhancement of the pool deck, improved access to the property’s semiprivate beach and the addition of private cabanas. The property improvements and timeshare development are expected to expand employment on a long-term basis.

“We are proud to welcome the Wyndham Rio Mar to our collection of high-quality Wyndham properties,” said Steven A. Rudnitsky, Wyndham Hotel Group president and chief executive officer, adding that the Wyndham Rio Mar represents the largest single addition to the brand since 2005.

Wyndham Worldwide will work closely with the government of Puerto Rico and the commonwealth’s tourism officials to develop Rio Mar into a world-class destination that will “attract thousands of travelers to Rio Grande every year, introducing them to the island’s true spirit of hospitality while sustaining high-quality, fulfilling jobs for several hundred area residents,” Rudnitsky said.