Conceived by a Bolivian tin magnate in the 1960s and opened in 1974, the resort was named after the phosphorescence of ocean creatures at night, which early sailors mistook as the twinkling of fairies. That magic is translated into the architecture here, where minarets and domes look over marbled arcades of cobblestone paths interspersed with piazzas, fountains, and tropical flowers. The international social set, as well as sail-fishing aficionados, are frequent visitors; most guests are couples, although singles and families are welcome.

Most guests arrive through a grand entryway and glimpse the ocean from the hotel lobby, while others come from the ocean itself and dock at the hotel's yacht marina. Either way, travelers enjoy the resort's secluded location and myriad of recreational opportunities. Popular with families and couples, the hotel is the ideal spot for guests seeking a balance of relaxation and recreation.