Hyatt Hotels and development company Hotelera Playa Sombrero have signed an agreement for the 150-room Andaz Papagayo, slated to open in 2013 in Costa Rica. The hotel will be part of Peninsula Papagayo, an exclusive 2,223-acre master planned development. Situated on 28 acres of oceanfront, Andaz will have two restaurants, beach club, spa, fitness center, and access to the resort’s marina and Arnold Palmer championship golf course.