Paradisus Resorts, operated by Spanish hotel and resort company Sol Meliá, has announced that it will develop a new property in Papagayo Bay, Costa Rica, by July 2013.

The 381-room resort has been located on a 21-hectare site and features five restaurants and five bars, a spa and health club, and 1,765m² of meeting space.

The hotel has been added to Sol Meliá under a management agreement, in partnership with SunVesta Holding, a Swiss private equity, consulting and development group.

The opening of Paradisus Papagayo Bay is part of Paradisus’s expansion plan, which also includes the opening of two resorts in Playa del Carmen, Mexico, in November 2011.