Although the government did not extend the State of Calamity and since October 1, Guatemala has been allowing the holding of events, fairs and concerts, the sector's businessmen believe that it is not profitable to hold meetings in which an area of 10 m2 per attendee is required.
Corporacion Camino Real, Radisson, Hyatt, Marriot, Adriatika, Hilton Garden and Holiday Inn are some of the large hotels that have suspended operations in Guatemala due to the health and economic crisis affecting the world.
As a result of the covid-19 outbreak, the Real Intercontinental Hotel suspended operations from April 1 and according to its managers, the reopening will depend on government regulations.
Hotel renovations and the opening of new establishments are planned next year in Guatemala, in a market where the occupancy rate is around 60%.
Despite the fact that the occupancy rate has not exceeded 60% in the last two years, growth of the hotel market in Guatemala continues, especially in the metropolitan area.In this location, the areas of greatest demand continue to be those near the road to El Salvador, Cayalá and the sector near La Reforma Avenue.
In a partnership with Central American businessmen five Park Hyatt hotels will be built in the capitals of Guatemala, Nicaragua, El Salvador and two in Honduras.
From a statement by the Hyatt Hotels Corporation:
"Hyatt Hotels Corporation today announced that a Hyatt affiliate has signed a master development plan with LATAM hotel Corp. to develop 10 Hyatt Place hotels in Central America and Mexico and that Hyatt affiliates have signed franchise agreements with LATAM hotel Corp. The five hotels are: Hyatt Place Managua in Nicaragua, Guatemala Hyatt Place in Guatemala City, Hyatt Place San Salvador in El Salvador, and the Hyatt Place San Pedro Sula and Tegucigalpa Hyatt Place in Honduras .
The AVIA real estate project to be built in the Zona Viva will have three towers, parking for 2,500 vehicles, and a convention center.
Elperiodico.com.gt reports: "The mixed-use project includes an investment of $125 million and is being driven by Grupo Cofiño Stahl and FS Richard, who after a contest to choose the design submitted by the firm Permuller & Cohen began the construction phase in the area measuring 16,400 square yards. "
Integrated into the Momentum shopping center, the 120-room hotel’s main clients will be executives visiting the growing number of companies with offices in the area.
Nacion.com reports that "The managers have said they also aim to attract tourists who want to get to know the eastern part of the greater metropolitan area, where there are volcanoes and mountains."
Corporation Camino Real inaugurated its "Camino Real Antigua" hotel, in the historic center of Guatemala City.
With this new hotel, the corporation now has 10 hotels in the region, three in Belize and seven in Guatemala.
"Camino Real Antigua has 100 rooms, including one for disabled guests and 12 suites", reported Prensalibre.com. "The complex will offer facilities for hosting special events...".