Hotel Casino San Rafael: from the 1948 icon to Cipriani

Updated on August 2, 2026

The Hotel San Rafael de Punta del Este opened on 11 December 1948 and was, for decades, the symbol of grand Rioplatense tourism: a Tudor-style palace facing the Brava, with the city's first casino and halls that saw presidents, diplomats and celebrities pass through. It closed to the public in 2011, was demolished starting in 2019, and today, on that same site at parada 11, the Cipriani Resort, Residences & Casino is being built: the largest tourism investment in Uruguay's history, with the first stage planned for late 2026.

Splendor, decline and demolition. And now a rebirth that once again turns all eyes in the east toward Parada 11.

How the San Rafael was born: a Tudor palace on the Brava

In the mid-1940s, Punta del Este was still a seaside resort of large houses and dunes. In 1945, a group led by hotelier Laureano Alonso Pérez, together with José Pizzorno and Antonio Lussich, began building on the Lorenzo Batlle Pacheco boardwalk —between Mar del Plata and Valparaíso streets— a hotel unlike anything that existed in the region. The project bore the signature of the architectural firm of Octavio de los Campos, Milton Puente and Hipólito Tournier, authors of several major works of modern Montevideo, who here chose an unexpected language: Tudor style, with exposed brick, steep roofs and an air of English countryside, set facing the Atlantic.

The San Rafael opened its doors on December 11, 1948. With it came the first privately run casino in the history of Punta del Este, which for half a century was the nighttime heart of the resort town. The hotel didn't just provide lodging: it defined the place. Around it grew a whole neighborhood of residences among the pines (what we know today as San Rafael and Rincón del Indio), and the city stretched eastward following its prestige.

The golden age: when everything happened at the San Rafael

Between the fifties and the seventies, the San Rafael was the stage where Punta del Este told its own story. Its Gothic Hall, with capacity for 1.500 people, hosted everything from gala balls to international summits. In April 1967 the hotel housed the Meeting of Presidents of the Americas, which brought together heads of state from across the continent facing the Brava. Years later it hosted the launch of the GATT Uruguay Round (the process that would eventually create the World Trade Organization) and OAS assemblies.

Crime reporting gave it a chapter too: in February 1969 the casino suffered a famous robbery at the hands of the tupamaros, an episode that made headlines worldwide. By then, saying San Rafael meant saying Punta del Este.

The decline: from five stars to closing in 2011

The decline was slow and, for that very reason, more painful. Uruguay's institutional breakdown of 1973 struck a blow to the resort's international prestige, and in the following decades competition from modern hotels and towers left the old palace increasingly out of step with the times. The milestones of that decline can be dated:

• 1997. The casino, the city's first, closes after half a century in operation.
• 2001. The hotel loses its rating: it goes from five stars down to three.
• 2011. The San Rafael closes its doors to the public. A decade of neglect begins, with the building visibly deteriorating.

During those years, the same question came back every summer: what to do with the San Rafael?

The sale to Cipriani and the demolition of the icon

Giuseppe Cipriani (fourth generation of the group born in 1931 with Harry's Bar in Venice) had known Punta del Este since the late eighties. In 2018 his group bought the San Rafael property, in a deal whose reported figures ranged between USD 40 and 50 million, with an ambitious project: turning it into the brand's first integrated resort in the world.

An intense public debate followed between those calling for the original building to be preserved and those who argued its condition no longer allowed it. The decision was made to demolish and rebuild: on April 5, 2019, the machines began dismantling the Tudor palace, with a commitment to erect a faithful replica of its façade and its main architectural elements. For that reconstruction, more than 350.000 handmade artisanal bricks were produced, made by hand just like the originals.

What's being built today: the Cipriani Resort, Residences & Casino

The project moving forward at Parada 11 is on a scale unprecedented for Uruguay: a publicly reported investment of more than USD 600 million (the latest published figures put it at up to USD 700 million), considered the largest in the history of the country's tourism sector. The complex combines three pieces:

• The hotel. A replica of the original San Rafael with 64 suites of 66 to 85 m² and 4 penthouses of more than 500 m², advertised rates starting at around USD 1.550 a night, a new Gothic Hall, spa, pools, and the group's historic restaurants —Harry's Bar included—.
• The casino and the events. A state-of-the-art casino of about 5.000 m² (bringing gaming back to the spot where the city's first casino was born) plus a convention center and the Cipriani beach club right on the sea.
• The residences. Three towers designed by the studio of Uruguayan architect Rafael Viñoly, with 30, 45 and 60 floors; the tallest is projected to be among the highest in South America. The first tower brings together 65 brand-new residences with 2 to 5 bedrooms, 3,35 m ceilings, custom Italian kitchens and travertine and marble bathrooms; the two penthouses at the top exceed 1.000 m². Published prices start at around USD 1,9 million, and the tower is already largely sold, with buyers from the United States, Italy, Argentina and Brazil.

Where does construction stand today? As of July 2026, more than 600 workers are on site, the main structures are up, and the reconstruction of the historic façade is moving forward in parallel. The opening of the first phase (hotel, casino, convention center and beach club) is expected for late 2026, with dates ranging between October and December according to the group's latest updates. The first residential tower is planned for 2028. At full capacity, the complex is expected to employ more than 1.000 people.

The Cipriani effect: what it means for Rincón del Indio and la Brava

For the real estate market, a project of this scale works as an anchor: it sets quality standards, attracts brands, and shapes value expectations for the whole area. The stretch of the Brava around the project (the San Rafael neighborhood, Rincón del Indio, and the Playa Brava coastline) already serves as a benchmark, with values of USD 4.000 to 7.000 per m² for apartments, based on the ranges covered in our guide to prices by area in Punta del Este.

The effect shows up on three levels. First, new premium supply: the Cipriani pushed other developers to look at the area, and towers and developments under construction along the Brava axis multiplied. Second, the chance to get in early: buying off-plan captures the appreciation up to handover, a mechanism we explain in the guide to buying off-plan. And third, the year-round effect: a complex with a casino, conventions and more than a thousand jobs generates demand for rentals and services all twelve months, in line with the city we describe in living year-round in Punta del Este.

Our office has been following the area long before the project was announced. If you're interested in a property near the new San Rafael (a beachfront apartment, a house among the pines of Rincón del Indio, or an off-plan unit), write to us and we'll go over it with concrete market data.

Frequently asked questions

When did the Hotel San Rafael in Punta del Este open?

The Hotel Casino San Rafael opened on December 11, 1948, after construction that began in 1945. The Tudor-style project was the work of the studio of architects Octavio de los Campos, Milton Puente, and Hipólito Tournier, and its casino was the first in the history of Punta del Este.

Why was the Hotel San Rafael demolished?

After decades of decline (the casino closed in 1997, the rating dropped from five to three stars in 2001 and the hotel closed to the public in 2011), the building sat unused for years. The Cipriani group bought the property in 2018 and, after a public debate between preserving and rebuilding, demolition began on April 5, 2019, with a commitment to raise a faithful replica of the original façade.

What's being built today on the former Hotel San Rafael site?

The Cipriani Resort, Residences & Casino: a replica of the historic hotel with 64 suites and 4 penthouses, a casino, convention center, beach club, and the group's restaurants, plus three residential towers of 30, 45, and 60 floors designed by Rafael Viñoly's studio, with brand-new residences starting at around USD 1,9 million. The reported investment exceeds USD 600 million, the largest in Uruguay's tourism sector.

How much does it cost to buy at the Cipriani in Punta del Este?

According to figures released by the developer as of July 2026, brand-new residences in the first tower start at around USD 1,9 million, for units of 2 to 5 bedrooms; the penthouses at the top exceed 1.000 m². These are reference figures that vary by unit, floor and view: write to us and we'll send you updated availability and terms.

When does the Cipriani complex in Punta del Este open?

The first phase (hotel, casino, convention center and beach club) is expected to open in late 2026, with dates ranging between October and December according to the group's latest communications. The first residential tower is projected for 2028. These are reference dates as of July 2026.

The Cipriani is changing Parada 11 and everything around it. If you're interested in the area before it opens, message us: we'll tell you what's there and what's coming.

Written by Santiago Pereyra Director of Santiago Pereyra Propiedades · Punta del Este

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