PUERTO RICO INDUSTRIAL
DEVELOPMENT COMPANY

In early 1946, as part of the Puerto Rican industrialization effort known asOperation Bootstrap, the Puerto Rico Industrial Development Company (PRIDCO)decided to erect a modern luxury hotel. The facility would be owned by theCommonwealth of Puerto Rico but leased to a multinational hospitality operator.The hotel would have 300 bedrooms and the necessary facilities and be locatedadjacent to the historic Fortín de San Gerónimo in Puerta de Tierra.

Acompetition was held to select the design. The design chosen was by ToroFerrer, who also designed the modern movement-style Supreme Court Building inSan Juan. To operate the hotel, PRIDCO invited seven leading American hotelfirms and Conrad Hilton Corp. won. PRIDCO spent $7 million to build and furnishthe hotel. The Caribe Hilton opened on December 9, 1949. Guests for the openingincluded Gloria Swanson, Eastern Air Lines President Eddie Rickenbacker, DavidRockefeller and numerous other celebrities. The government leased the hotel tothe Hilton Corp. for 20 years. The creation of the hotel represented a businesspartnership between Puerto Rico and the Unites States of America.

Thehotel was expanded over the years from 300 rooms to 646 rooms. After managingthe hotel for 48 years, Hilton International bought the property in 1998.Hilton closed the hotel the following year for a complete $50 million in renovations.It reopened on December 25, 1999, celebrating its 50th anniversary.

In2005, the hotel was expanded with the huge Paseo Caribe complex, includingshops, restaurants and 264 villas marketed as the Condado Lagoon Villas. InJanuary 2017, the ownership of the hotel was transferred to Park Hotels &Resorts. In September 2017, the hotel was damaged by Hurricane María, forcingit to close. It reopened in May 2019, following a $100 million investment in renovations.

Betweenthe 1960s and 1980s, many important performers either worked or stayed at theCaribe Hilton. Other famous guests have included many world champion boxersduring Puerto Rico's golden era of boxing. The national basketball teams oftwelve countries also stayed in the hotel for 2003's pre-Olympic tournament ofthe Americas.

Also,part of the movie Wizards of Waverly Place was filmed in the outdoor pool areaof the hotel. It was also the setting for Hunter S. Thompson's The Rum Diary,among other movies.

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Historia del Hotel Caribe Hilton- Puerto Rico

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