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Renovation Paradise Hotel?


I heard rumours about the Paradise Beach and Casino hotel in Playa Dorada.
Some people say it will be closed after Easter for renovation (I can imagine as it needs a renovation) others says it will only partly closed due to renovation. Now I also hear that the RIU chain want to buy this hotel, want to destroy it and build on this piece of ground a new RIU hotel.
Who has more info?