Costa Rica’s luxury travel scene just hit a new high point. The Nekajui, a Ritz-Carlton Reserve, opened its doors in March 2025 right on Peninsula Papagayo’s prime coastal real estate. This isn’t just big news for travelers – it’s a game-changer for anyone invested in Guanacaste property.
At $1,600 a night minimum, Nekajui isn’t trying to compete with your average beachfront hotel. These 107 rooms, from plunge-pool suites to glamping tents to multi-bedroom residences, put Guanacaste squarely on the map for the kind of travelers who might otherwise be heading to Bali or the Maldives. The Ritz-Carlton name alone carries weight, but being designated as one of their ultra-exclusive “Reserve” properties (the first in Central America) takes things to another level entirely.
What does this mean if you own – or are thinking about owning – property anywhere from Papagayo down to Playas del Coco? In short: rising tides lift all boats. The money flowing into the region, from infrastructure upgrades to new dining spots to improved services, will benefit areas well beyond the peninsula itself. For real estate investors, the timing couldn’t be better as Guanacaste’s northern coast continues its transformation from hidden gem to global luxury destination.
Nekajui: The First Ritz-Carlton Reserve in Central America
Drive up to the end of Peninsula Papagayo and you’ll find yourself at Costa Rica’s newest crown jewel. The name “Nekajui” comes from the indigenous Chorotega word for “lush garden,” and it fits perfectly. Everywhere you look, the resort blends into the tropical landscape, with buildings that seem to grow organically from the hillsides overlooking Bahia Huevos.
This isn’t just another luxury hotel – Ritz-Carlton Reserve properties are in a league of their own. There are only a handful worldwide, each designed to be distinctive and deeply connected to their location. For Costa Rica, landing a Reserve property puts Guanacaste in the same conversation as Bali, Thailand, and Los Cabos – destinations that attract the wealthiest global travelers looking for experiences they can’t find anywhere else.
Resort Overview and Unique Features
The heart of Nekajui is La Casona, a modern take on the traditional Costa Rican hacienda. This central gathering place sets the tone for the entire property – elegant but not stuffy, luxurious but deeply connected to local culture. Wander through and you’ll discover secret gardens, hidden pathways, and thoughtful details that tell the story of Guanacaste.
What makes Nekajui stand out isn’t just the luxury factor – it’s how the property celebrates Costa Rican heritage. The design team, 10SB (formerly SB Architects), drew heavy inspiration from local Guanacastecan culture. You’ll notice Spanish colonial influences mixed with elements from the Sabanero (cowboy) tradition. Even the artwork isn’t just decorative – the resort features original pieces from local and Latin American artists, including Chorotegan-inspired décor and artifacts that connect guests to the region’s indigenous history.
Accommodations and Amenities
The 107 keys at Nekajui come in several distinct flavors. The Ocean Reserve rooms start at a spacious 872 square feet, each with its own plunge pool and views that will fill up your phone’s photo storage in minutes. For something different, try the glamping tents – these aren’t your childhood camping experience, but rather open-air luxury spaces that let you sleep surrounded by nature without sacrificing any comfort.
For those traveling with family or looking for more space, the residences range from 2 to 5 bedrooms, each with private infinity pools and indoor-outdoor living spaces that make the most of Costa Rica’s perfect climate. The ultimate splurge is Villa Guayacan, a 10-bedroom retreat that’s perfect for special occasions or corporate retreats. With its private theater, expansive terraces, and dedicated staff, it’s essentially a boutique hotel within the resort.
Beyond accommodations, Nekajui delivers on the dining front with Puna, where renowned Chef Diego Muñoz serves up innovative Peruvian cuisine with Costa Rican influences. Down at the beach, Niri Beach Club offers Iberian-inspired dishes right by the water. The Nimbu Spa takes inspiration from local healing traditions, while adventure seekers can tap into the 250-acre Palmares Preserve for everything from hiking to zip-lining to water sports.
Accommodations and Amenities
The 107 keys at Nekajui come in several distinct flavors. The Ocean Reserve rooms start at a spacious 872 square feet, each with its own plunge pool and views that will fill up your phone’s photo storage in minutes. For something different, try the glamping tents – these aren’t your childhood camping experience, but rather open-air luxury spaces that let you sleep surrounded by nature without sacrificing any comfort.
For those traveling with family or looking for more space, the residences range from 2 to 5 bedrooms, each with private infinity pools and indoor-outdoor living spaces that make the most of Costa Rica’s perfect climate. The ultimate splurge is Villa Guayacan, a 10-bedroom retreat that’s perfect for special occasions or corporate retreats. With its private theater, expansive terraces, and dedicated staff, it’s essentially a boutique hotel within the resort.
Beyond accommodations, Nekajui delivers on the dining front with Puna, where renowned Chef Diego Muñoz serves up innovative Peruvian cuisine with Costa Rican influences. Down at the beach, Niri Beach Club offers Iberian-inspired dishes right by the water. The Nimbu Spa takes inspiration from local healing traditions, while adventure seekers can tap into the 250-acre Palmares Preserve for everything from hiking to zip-lining to water sports.
Cultural Integration and Design Philosophy
What’s most striking about Nekajui isn’t what they built, but how they built it. The architecture follows the natural contours of the land, with buildings positioned to maximize views while minimizing their impact on the surrounding forest. Materials like local wood, stone, tile, and bamboo create spaces that feel authentic rather than imported.
The resort’s attention to cultural detail goes beyond surface-level decorations. Coffee and cacao rituals celebrate Costa Rica’s agricultural heritage, while staff members are trained as cultural ambassadors who can share insights about local traditions and history. Even the landscaping tells a story, with gardens featuring native plants that have been used by indigenous communities for generations.
This deep cultural integration isn’t just good for guests – it’s good for the community. By elevating Costa Rican culture and craftsmanship to the level of global luxury, Nekajui creates pride and preservation incentives that benefit the entire region. When the world’s most discerning travelers pay top dollar to experience authentic Costa Rican culture, it reinforces the value of preserving these traditions for future generations.
Economic Impact on Peninsula Papagayo and Beyond
When a brand like Ritz-Carlton plants its flag somewhere, the ripple effects reach far beyond just that property. For Peninsula Papagayo and surrounding areas, Nekajui isn’t just a new hotel – it’s an economic engine that changes everything from job markets to infrastructure to the types of businesses that open nearby.
Peninsula Papagayo was already home to luxury properties like the Four Seasons, but Nekajui takes things up another notch entirely. With room rates starting at $1,600 per night, we’re talking about a level of luxury and exclusivity that attracts a specific type of traveler – one with significant spending power who expects world-class experiences and amenities not just at their hotel, but throughout their visit to Costa Rica.
Luxury Tourism Growth and Market Positioning
The arrival of Nekajui cements Guanacaste’s position in the global luxury tourism market. We’re no longer talking about Costa Rica as just an eco-tourism destination or a surf spot – now, Guanacaste sits alongside places like the Maldives, Bora Bora, and Los Cabos as a destination for travelers who might drop $10,000+ on a weeklong vacation without blinking.
This shift affects everything in the region’s tourism ecosystem. Tour operators are developing premium experiences with private guides and helicopter transfers. Restaurants are elevating their offerings with local ingredients prepared using international techniques. Even transportation companies are upgrading their fleets, with luxury SUVs and private drivers becoming the new standard for high-end travelers coming through Liberia Airport.
Job Creation and Local Employment
Nekajui employs around 350 people directly, and these aren’t just entry-level positions. While there are housekeepers and grounds staff, there are also specialized spa therapists, sommeliers, private chefs, and managers – positions that command good salaries and provide career advancement opportunities that were previously rare in the region.
The multiplicative effect extends beyond the resort itself. For every hotel job created, economists estimate 1.5 to 2 additional jobs emerge in the surrounding economy. These range from tour guides and drivers to farmers supplying produce and seafood vendors providing fresh catches. The resort’s commitment to local hiring means these economic benefits stay within Costa Rica rather than flowing to imported labor.
Regional Infrastructure Improvements
The most lasting impact of developments like Nekajui may be the infrastructure upgrades that benefit everyone in the region. Road improvements between Liberia and Peninsula Papagayo make travel smoother and safer. Water and electrical systems have been upgraded to handle increased demand while maintaining environmental standards, resulting in fewer outages even during green season storms.
Digital connectivity has seen particularly impressive improvements. High-speed internet and stronger mobile coverage now extend throughout the region, benefiting not just luxury resorts but local businesses and schools as well. These developments have also helped accelerate improvements at Liberia International Airport (LIR), which has added direct flights from major cities and upgraded its facilities, making the entire region more accessible to global travelers and investors alike.
Real Estate Implications for Guanacaste
The luxury effect of Nekajui is already rippling through Guanacaste’s real estate market. Properties that might have seemed overpriced two years ago now look like bargains as buyers rush to secure their piece of Costa Rica’s gold coast before prices climb higher. This trend extends well beyond Peninsula Papagayo itself, affecting communities throughout the northern Pacific region.
Property Value Trends in Surrounding Areas
Peninsula Papagayo has long commanded the highest prices in Guanacaste, with luxury homes starting at $2 million and often reaching $10 million or more. What’s changing now is the velocity of sales – properties that might have sat on the market for a year are selling within weeks, often at or above asking price. The limited supply of premium lots on the peninsula has pushed prices up 25-30% since the Nekajui announcement.
This price growth is spreading outward in concentric circles. Areas like Playa Hermosa and Playa Panama, just outside the peninsula, have seen 15-20% appreciation in the last year alone. Even in communities 30-45 minutes away, the “Ritz effect” is showing up in property valuations and rental rates, especially for properties that offer ocean views or luxury amenities that appeal to the same discerning clients Nekajui is attracting.
Investment Opportunities in Nearby Communities
Savvy investors are looking beyond the immediate Papagayo area to communities where prices haven’t yet peaked. Places like Playa Hermosa offer a sweet spot – close enough to benefit from the Nekajui halo but still with reasonable entry points for investment. Condo projects that were stalled during the pandemic are now resuming construction, and pre-construction units are selling quickly.
The most interesting trend might be the emergence of luxury rental markets in areas that previously catered to budget travelers. Property managers report dramatically higher rates for well-appointed homes with pools and ocean views, even in traditionally mid-market areas. Weekly rates that topped out at $2,500 a few years ago now easily command $4,000-5,000 for properties that meet the new luxury standard, creating compelling ROI for investors willing to upgrade existing properties.
Playas del Coco: The Ripple Effect
Playas del Coco stands to benefit significantly from the Nekajui development, despite being about 30 minutes from Peninsula Papagayo. As the closest town with substantial commercial infrastructure, El Coco (as locals call it) serves as a gateway community where many resort employees live and where visitors often stop for supplies or dining options beyond the peninsula.
The upcoming marina project in El Coco creates a perfect synergy with Nekajui’s development. Together, they’re transforming the northern Guanacaste coast into a complete luxury destination with both land and sea attractions. Property investors are taking note, with particular interest in locations that could serve either the marina crowd or offer easy access to Papagayo. As these two major projects progress in parallel, the combined impact on property values and investment potential in the corridor between them looks increasingly promising.
The Future of Northern Guanacaste Real Estate
The twin developments of Nekajui and the Marina de Playas del Coco are creating a perfect storm of opportunity for real estate investors in northern Guanacaste. As the region transitions from a destination known primarily for surfing and budget travel to one that can confidently host the world’s most discerning luxury travelers, property values are responding accordingly. For those who recognize this shift early, the potential for both appreciation and rental income looks exceptionally strong over the next 5-10 years.
What makes this moment particularly interesting is that we’re still in the early stages of this transformation. While prices have certainly increased, they remain well below comparable coastal destinations in Mexico or the Caribbean. With major brands like Ritz-Carlton making substantial long-term commitments to the region, infrastructure improving yearly, and the Costa Rican government continuing to support tourism development, northern Guanacaste is positioning itself as one of the most compelling real estate investment opportunities in Central America today.
Contact Us today to inquire about real estate opportunities in Playas del Coco & area.
Frequently Asked Questions
As Nekajui opens its doors and transforms the region, we’re hearing many questions from potential investors. Here are straightforward answers to the most common questions about the Ritz-Carlton Reserve and what it means for Guanacaste real estate.
How will Nekajui affect property values in nearby communities?
Property values are already increasing, with immediate areas seeing 25-30% appreciation since the announcement and surrounding communities like Playa Hermosa experiencing 15-20% growth. This “luxury halo effect” typically extends to communities within a 30-45 minute drive, particularly for properties offering ocean views or high-end amenities. The effect will likely strengthen as the resort establishes itself and attracts more affluent visitors to the region.
What areas offer the best investment potential right now?
Look to areas offering proximity to Nekajui without the premium prices of Peninsula Papagayo itself. Playa Hermosa, Playa Panama, and parts of Playas del Coco present strong value propositions, especially properties that can be upgraded to appeal to luxury travelers. The corridor between Papagayo and Playas del Coco is particularly interesting due to the synergy between the Ritz-Carlton development and the upcoming marina project.
What rental potential can investors expect in Guanacaste now?
Well-appointed properties in prime locations are seeing dramatic increases in rental rates and occupancy. Luxury vacation homes that meet high standards (infinity pools, ocean views, modern design) now command $4,000-5,000 weekly in areas where rates previously topped out at $2,500. Occupancy rates have also improved, with peak season approaching 90% in premium properties and shoulder seasons showing significant improvement.
Is this the right time to invest, or should I wait?
While markets can always fluctuate, current indicators suggest we’re in the early-to-middle stages of a significant transformation in northern Guanacaste. Prices have increased but remain well below comparable international destinations. The combination of major brand investment (Ritz-Carlton), infrastructure improvements, and complementary developments (marina project) creates a compelling case for near-term investment before the region’s international profile rises further.
What exactly is Nekajui and how is it different from other resorts?
Nekajui is a Ritz-Carlton Reserve property – the most exclusive category in the Marriott luxury portfolio with only a handful of locations worldwide. Opening in March 2025, it features 107 accommodations including rooms with plunge pools, glamping tents, and multi-bedroom residences. With rates starting at $1,600 per night, it targets ultra-affluent travelers and puts Guanacaste in the same category as global luxury destinations like Bali and Los Cabos.
Will local infrastructure support all this development?
Infrastructure improvements are already underway throughout the region. Roads between Liberia and coastal areas have seen significant upgrades, while water and electrical systems have been enhanced to support growing demand. Digital connectivity has improved dramatically with expanded high-speed internet and stronger mobile coverage. Liberia International Airport continues to add direct flights from major cities, making the region increasingly accessible to international investors and visitors.
