The Gran Hotel de Pucón sells for 16 million dollars
The same group that faced no rivals in the race for the Pucón casino has now added a key piece of the city's tourism map. Inversiones Gran Pucón SpA, a company linked to Casino Volcán Pucón S.A., completed the purchase of the Gran Hotel Pucón for 372,342 Unidades de Fomento, equivalent to 15.216 billion Chilean pesos, or about 16.3 million dollars. The operation was carried out through the acquisition of all shares of Inmobiliaria Península SpA, the company that owns the property, previously held by Enjoy and its related companies.
The purchase comes just weeks after Casino Volcán Pucón became the sole applicant for the operating permit of the local casino. This company is linked to the former Treasury manager of Enjoy, Andrés Raggio Guerrero, who is also the main representative of Inversiones Gran Pucón. On August 11, the firm submitted its bid to the Superintendencia de Casinos de Juego, unopposed, and the proposal is undergoing technical evaluation; if it passes, its economic offer will be opened. The license for the current Pucón concession is due to be granted in 2028, after Enjoy prematurely relinquished the venue as part of its reorganization process.
The sale of the hotel was approved by Enjoy's creditors' committee and is part of its divestment plan. According to a material fact that the company sent to the Comisión para el Mercado Financiero, the price was subject to post-closing adjustments. According to the local media outlet La Tercera, 12.466 billion pesos, about 13.3 million dollars, will be allocated to commitments with international bondholders, while another 2.750 billion, about 2.9 million dollars, will be retained for operating expenses of Inmobiliaria Peñuelas SpA, operator of the Coquimbo casino. The property was put up for sale in December 2025 and the operation closed on August 26, 2026, after about nine months, not including the casino or the apartment buildings that Enjoy owned in the commune.
Built in 1935, acquired by Enjoy in 2008, and reopened in 2022 after a renovation, the Gran Hotel Pucón boasts 12,500 square meters of built area and 153 rooms, in addition to a spa, gym, restaurants, bar, swimming pools, and event halls. The local tourism sector celebrated the change of hands: the director of the Chamber of Commerce and Tourism of Pucón, Julio Pablaza, highlighted the establishment's importance for the commune's development and expressed anticipation for potential new investments and improved management under the new owner. This operation adds to another recent one by the same group, the purchase for about 9.6 million dollars of the block where the casino currently operates, meaning that if the group linked to Raggio finally obtains the permit, it will hold a strong position in Pucón's hotel and entertainment business.
Enjoy is one of Chile's largest casino operators and is undergoing a reorganization process that forced it to divest assets. As part of the second such process, agreed upon in 2024, the company had to return the casino licenses for Pucón, Viña del Mar, and Coquimbo and sell various assets, a context that frames both the departure of the Gran Hotel and the restructuring of the market around new companies seeking to acquire these venues. The special conditions set by the Superintendencia's Resolutive Council for Pucón include a minimum economic offer of 43,000 Unidades de Fomento, the continuity of all jobs, and the construction of an event hall for 1,500 people.
Tags: Gran Hotel Pucón, Casino Volcán Pucón, Enjoy, Superintendency of Gaming Casinos