The facility would be owned by the Commonwealth of Puerto Rico, but leased to the multinational hospitality operator that provided the best bid.

A competition was held to select the design, with three architectural firms in Puerto Rico invited: Schimmelpfennig, Ruiz y González; The Office of Henry Klumb; and Toro Ferrer.

Two additional firms from Florida were also invited to participate: Frederick G. Seelman from Palm Beach and Robert Swartburg from Miami.

Conrad Hilton, being from New Mexico, opened his letter back with "Mi estimado amigo" and won over the Puerto Ricans.

[4][5] The government-backed Puerto Rico Industrial Development Corp. (PRIDCO) spent $7 million to build and furnish the hotel.

[4] Guests for the opening included Gloria Swanson, Eastern Air Lines President Eddie Rickenbacker, David Rockefeller and numerous other celebrities and notables.

In 1954, bartender Ramón “Monchito” Marrero spent three months creating a mix of rum, coconut cream, and pineapple juice.