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Hacienda Pinilla Announces New President and Aggressive Reinvestment Plan for the Future

hacienda_pinilla_costa_ricaThe owners of the Hacienda Pinilla Beach Resort, Agroganadera Pinilla, S.A, released their much anticipated announcement yesterday regarding the apppointment of their new president and future direction of Hacienda Pinilla - a 4,500 acre luxury community on Costa Rica's North Pacific Gold Coast.

The Hacienda Pinilla board appointed Bree McClure Pattillo to succeed long time president and founder Pat Pattillo, a man well-respected in Costa Rica for his fairness, generosity and philanthropic work in the local community.  Ms. Pattillo brings nearly two decades of experience to Hacienda Pinilla, as well as a shared passion inherited from her grandfather from a lifetime of involvement in Hacienda Pinilla. Ms. Pattillo, who received an MBA from the Citadel, is already a director and officer of Pattillo Construction Corporation and several real estate holding companies in the United States.

Last August, the owners of Hacienda Pinilla initiated a comprehensive review of succession planning options for the project in order to ensure a continuation of Pat Pattillo’s vision for both Hacienda Pinilla and his charitable foundations. 

Discussions with interested investors and management companies progressed through early May 2013. After carefully weighing all offers and options, the owners decided that retention of ownership control and an aggressive reinvestment in the project, along with improvements to resort operations, would produce the optimal outcomes for current ownership, property owners, partners, the foundations and staff.    

“I am excited about stepping into the role as steward of Hacienda Pinilla and its affiliated foundations,” said Ms. Pattillo. “While we were presented with a number of opportunities to sell all or portions of the property, we ultimately determined that retaining control and reinvesting in the property was the best course of action. We are also far along in negotiations for sale of key development parcels within the project, and the selection of resort management and sales and marketing companies. We anticipate making further announcements shortly. We have the flexibility and resources to take a course of action that reflects our long term commitment to the project.

“My initial and primary focus will be on improving resort operations, marketing exposure and property sales within the project with new and increased investments in local and global marketing, sales team management and training as well as staffing,” Ms. Pattillo continued. “The goal of these efforts is singular … a full and uncompromising restoration of momentum to the property and realization of the comprehensive vision of Hacienda Pinilla.”

hacienda_pinilla_charity_schoolsPat Patillo's charitable foundations include Guanacaste Ventures U.S., Inc., a private non-profit organization dedicated to improving education, health and housing in the Americas. In cooperation with its sister foundation in Costa Rica, Fundación Progreso Guanacaste, Pat Patillo has helped to provide scholarships to local students from Costa Rica's Guanacaste province for use in attending U.S. colleges and universities.

The foundations were established in 2005 by Pat Pattillo, the majority shareholder of Agroganadera Pinilla, S.A. A portion of the profits as well as contributions from property owners and ownership of Hacienda Pinilla Beach Resort are donated to the foundations to improve the lives and provide educational opportunities to the citizens of the Guanacaste. Every year since their inception, the foundations have used these funds to build and renovate schools and homes, to provide scholarships, and to fund educational and healthcare initiatives.