Cidra hotel re-opens.

The Treasure Island Hotel, which opened in the 1940s and closed in 1966, reopened on an 11-acre farm facing Cidra Lake after a US$8 million investment, US$7 million of which came from the town of Cidra and US$1 million from developer Rafael Pancorbo and his partner Jose Hernandez, reports El Nuevo Dia (Aug. 31, 2007). The 36-room hotel employs 40. "In the same way that we've rescued the Hotel Cayo Largo in Fajardo, and we hope to do so soon with the Hotel Cerromar and Dorado Beach in Dorado, this inauguration represents the rescue of an historical hotel, said Gov. Anibal Acevedo Vila at the ceremony. "By Dec. 2008 we will have built and launched 5,359 new hotel rooms, representing an investment of US$1.3 billion and generating 37,774 new jobs," he said.