The world may still be feeling the effects of an extended economic crisis, but you wouldn’t know it from looking at San Juan’s Condado district. The heart of the Puerto Rican capital’s tourism and hospitality industry, Condado has welcomed refurbished hotels, new upscale shops and restaurants, and a surge in real estate development, with more on the way. It is, perhaps, a very visual example of why Puerto Rico is sometimes called “the shining star of the Caribbean.”

“Even with the economic crisis that we’ve been experiencing for about four years, the effect of significant investment in construction has resulted in an excellent offering—not just in residential and commercial real estate, but also in infrastructure, including highways and airports,” said Ramon Ferreira, president of Celf Real Estate, which handles upscale properties in metropolitan San Juan. “You could definitely say that we have a unique and exceptional offering, compared to the rest of the Caribbean and even the rest of Latin America.”

Indeed, as the capital of a self-governing U.S. territory, San Juan enjoys a unique position in the world, with strong links both with the United States and the rest of Latin America. Ferreira said that Puerto Rico’s cultural and business connections make it especially attractive, both for investors and travelers. “Business travelers to Puerto Rico can count on the advantage of a professional culture that benefits from business practices influenced greatly by the U.S. business dynamic, along with the ingenuity and flexibility that comes from our European and Latin background and roots.” 

Puerto Rico’s commonwealth status also makes it an easier place for U.S.-based travelers to visit, said Michael Platt, general manager of the El San Juan Hotel & Casino. “We have an opportunity that the rest of the Caribbean does not,” he said, noting that unlike most destinations, travelers from the United States can leave their passports at home when flying to San Juan. “In Puerto Rico, (U.S. citizens) don’t need a passport. Everyone speaks English. You don’t have to change money. And you can call home from your cell phone at the pool.”

It may be rimmed with beaches and graced with palm trees, but this Caribbean island has carved out a decidedly business-oriented identity in the years since World War II, when an industrial revolution brought companies that would grow to include chemical and pharmaceutical production, textiles and food products. Tourism also plays a key role in Puerto Rico’s livelihood, and San Juan—as the major gateway—benefits from a convenient combination of hotels, restaurants and other venues that are well versed at serving the needs of both business and leisure travelers.

So while corporate warriors may hide away during daylight hours on La Milla de Oro (the Golden Mile), a section of the Hato Rey district that’s home to multiple banks and other financial institutions, they are just as likely as the average visitor to relax at the same upscale hotels, dine at the same stylish restaurants, and sun on the same stretches of sand. San Juan is, indeed, an ideal and efficient place to mix business with pleasure.

Lay of the Land

Most visitors, whether focused on closing a business deal or perfecting their tans, stay and play in one of metropolitan San Juan’s three main oceanfront neighborhoods. Old San Juan is the historic heart of the city, dating to the beginning of the island’s founding as a Spanish colony in the 16th century. Now a UNESCO World Heritage site, this lovely collection of narrow streets and pristinely restored buildings has also become a hotspot for fine dining, with a growing tendency toward creative fusion cuisine. It’s also home to one of San Juan’s most interesting accommodations: Hotel El Convento, a luxury boutique property set in a fully renovated, 350-year-old Carmelite convent.

Another neighborhood popular with business and leisure travelers is Isla Verde, an oceanfront area that sits adjacent to Luis Muñoz Marín International Airport, the main point of arrival for most travelers (where a new terminal is nearly complete, although an opening date has yet to be announced). Visits to Isla Verde tend to center around the large beachfront hotels, including the InterContinental San Juan Resort & Casino, which last year spent $40 million on upgrades, and the El San Juan Hotel & Casino, which recently joined the Waldorf Astoria collection.

Centrally located between Isla Verde and Old San Juan is Condado, a beach-lined neighborhood that in recent years has attained a fresh luster, thanks to an array of new and refurbished businesses. “One of the things I really like about the Condado district is that it’s very walkable,” said Mary Beth Anastasio, a financial services consultant based in New York City. “Whether you have an entire day free or just an evening, you don’t have to get into a car to enjoy the beach or the excellent restaurants.”

The renovated, refashioned hotels that sit along Condado’s beach offer their own lineup of entertainment and dining options, from casinos to cocktails to haute cuisine. La Concha, a Renaissance Resort, is a shining example of Condado’s current, style-conscious image; the chic update to La Concha’s 1950s tropical modern architecture has made the property one of the hottest options not only for its accommodations, but also for its gourmet Perla restaurant (set in an iconic shell-shaped structure on the beach), and for its hip lobby bar.

The Conrad Condado Plaza, which also benefited from a massive renovation when it joined Hilton’s Conrad brand in 2009, has become a stylish lodging alternative in its own right, with contemporary décor, trendy bars, and two restaurants—Pikayo and Varitas—operated by one of San Juan’s most respected celebrity chefs, Wilo Benet. Just across the water from the Conrad Condado Plaza sits the Caribe Hilton, one of the city’s first glamorous resort hotels (according to some stories, the piña colada was invented here) and still one of the best options for business and leisure travelers.

One of Condado’s soon-to-open hotels actually represents a trip back in time for anyone with a long-range memory of the area. The Condado Vanderbilt, slated to open in 2011, is a luxury resort project that includes the shell of a long-shuttered hotel built in 1919. Completely gutted and renovated, the original hotel—which is listed on the National Register of Historic Places—will be complemented by the addition of new condo-hotel towers.

Convention Central

As far as business travel and hospitality is concerned, much talk is focused on the Convention Center District, a 113-acre site anchored by the five-year-old Puerto Rico Convention Center, which at 580,000 square feet is billed as the largest meeting space in the Caribbean. This new development is slated for major growth in the coming years, with retail, corporate and residential components all part of the master plan. The first hotel, the 500-room Sheraton Puerto Rico Hotel & Casino, opened its doors last year, and a 252-room Aloft Hotel and 300-room Marriott Courtyard are still in the works.

“The Convention Center District is a key development in the growth of the Puerto Rican tourism market, because it allows us to compete for business that was previously out of our reach or scope of feasibility,” said Jeremy Marquard, director of sales and marketing at the new Sheraton property. “Because our laws are primarily U.S. laws, doing business in Puerto Rico has always been easy and convenient, and now we have even larger facilities to appeal to a whole new market of business—particularly in the association and corporate environment.”

Connectivity from the Convention Center District is receiving some help as well. Isla Grande Airport, the nearby airfield that serves as a hub for private aviation, as well as local flights within Puerto Rico and to neighboring islands, is undergoing a $7-million upgrade and expansion—making it a smoother experience for anyone looking for a fast getaway to places like Vieques Island, which is home to the new W Retreat & Spa.

Of course, with so much beach right within the city limits, getting away from it all isn’t that difficult.