The owners of what was supposed to be a Nikki Beach resort in Panama have reached an agreement to rebrand the property as the Royalton Playa Blanca.
The resort will be managed by Blue Diamond, a joint venture of tour operator giants Sunwing Travel Group and TUI Travel.
The Panama resort has been embroiled in a legal dispute with Nikki Beach, which accused the owner of wrongfully using its brand even after Nikki Beach pulled out of the project. Nikki Beach said the property did not meet its brand standards.
Resort owner RG Hotels has accused Nikki Beach of breaking its contract without legitimate grounds.
The resort has 240 rooms, 70% of which are oceanfront suites. The hotel also has five restaurants, two pools, an events hall and what it describes as "a modernist chic, organic design."
In addition to the agreement, RG Hotels and Blue Diamond are developing expansion plans for two more properties in the Playa Blanca area, RG Hotels said.
RG Hotels said it expects the resort to benefit from its links to TUI and Sunwing.
U.K.-based TUI Travel is one of Europe’s top travel groups, with 80 tour operators in 25 countries.
Toronto-based Sunwing is a Canadian leader for destinations in the Caribbean, operating the brands Sunwing Travel, Signature Vacations, Sell Off Vacations and Red Seal Vacations.
TUI Travel owns 49% of Sunwing.