PAPAGAYO, Costa Rica (November 21, 2006) – Kirchert Pakonen Development and Regent Hotels & Resorts have announced plans for La Punta Papagayo, a 60-acre, five-star luxury resort that will introduce the style, amenities and services of a world-class get-away to the country’s stunningly beautiful seacoast.  The Costa Rican government has granted 60-acres of concession land for the development of the project. 

Located only 20 minutes from Liberia International Airport in the northwest region of Costa Rica’s dazzling Guanacaste province, overlooking the Gulf of Papagayo and the Bay of Colebra, the resort will comprise a luxury hotel, private villas, estate homes and a retail village. 

Regent Hotels and Resorts, a global leader in the luxury segment of the hotel industry, has been named as the hotel management company.  As with every Regent hotel, the property will embrace The Regent Experience SM, a corporate promise to guests of immersion in local culture, luxury for all the senses, attention to detail and highly personalized and anticipatory service. 

La Punta Papagayo is a joint venture of Blaine Kirchert and Rich Pakonen of Minnesota-based Kirchert Pakonen Development, LLC.  Kirchert and Pakonen have assembled a top-notch team of design and development partners led by acclaimed architect Ronald Zürcher of Zürcher Arquitectos de Costa Rica.  Zürcher has been instrumental in many of Costa Rica’s major hospitality developments, including Four Seasons Papagayo Resort, the St. Regis Costa Rica and the eco-friendly Punta Islita Resort.  Other significant partners include EDSA landscape architects, DEHC Ingenieros Consultores and the interior design firm of Wimberly Allison Tong & Goo. 

La Punta Papagayo is among the most anticipated developments in Costa Rica, offering exquisite accommodations and residences, unparalleled service and personalized amenities. Nestled in a lush tropical hillside that soars majestically above the ocean, the resort will deliver unrivaled sweeping ocean views and stunning sunset panoramas. 

La Punta Papagayo will also feature a world-class restaurant under the direction of an internationally acclaimed chef, as well as a luxury spa and wellness center that will introduce a level of treatments and services heretofore unavailable in Costa Rica.  A worldwide search for a chef/culinary director and a spa operator to assist the developers in realizing their vision, is currently under way. 

La Punta Papagayo is scheduled to open in early 2009.

About Regent Hotels & Resorts
Regent is a global leader in the luxury segment of the hospitality industry, encompassing hotels, resorts, residences and cruises worldwide.  Renowned for its dedication to customer service, Regent provides discerning guests with personalized and innovative hospitality through The Regent Experience, designed to continuously exceed expectations.  Regent Hotels & Resorts properties are developed globally with Singapore-based Carlson Hotels Asia Pacific; and Brussels-based Rezidor SAS Hospitality, which is developing Regent Hotels & Resorts in Europe, the Middle East and Africa Regent Hotels and Regent Seven Seas Cruises are both part of Carlson Companies, a world leader in the hotel, cruise, restaurant, travel and marketing industries.  For more information on Regent, visit www.theregentexperience.com.

About Kirchert Pakonen 
Kirchert Pakonen is a team of two Minnesota real estate veterans, Blaine Kirchert and Rich Pakonen. The developers have set their sights on the beautiful northwestern coast of Costa Rica for their new luxury condominiums, hotels and estate homes.  Their first project, Sombras (“The Shade” in Spanish), will soon be unveiled in Playa del Coco in the country’s North Guanacaste region.  A second project is currently underway just north of Playa del Coco on 60 acres of waterfront property between Playa Hermosa and Playa Panama, overlooking the Gulf of Papagayo.  The development, La Punta Papagayo, will open in 2009 and feature a five-star hotel, luxury villas, estate homes and a retail village.  La Punta Papagayo is expected to be one of Costa Rica’s most significant resort developments.