$45 million Investment in "Low Cost" Hotels

The US budget accommodation group G6 Hospitality has announced that within five years it will build ten hotels in Belize, Costa Rica and Panama.

Wednesday, January 25, 2017

From a statement issued by G6 Hospitality:

DALLAS, Jan. 23, 2017 /PRNewswire/ -- G6 Hospitality, known for its iconic economy lodging brands, Motel 6 and Studio 6 in the U.S. and Canada, today announced that it is extending its footprint to Central America. The hospitality group signed a new area development agreement with InterAmerican Development Group, Inc. (IADG), to bring its newly designed brands, Hotel 6 and Estudio 6, to Belize, Costa Rica, Panama and more.

InterAmerican Development Group (IADG) is a new entity formed by Grupo Portalis, Leisure Partners, and Calvet & Asociados with the goal of developing and operating a budget hotel platform in all of Central America under the Hotel 6 and Estudio 6 brands. This development agreement is part of G6 Hospitality's efforts to bring its unique brands to several countries in the region including Belize, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama. With this new partnership, the company plans to expand its portfolio opening up to ten Hotel 6/Estudio 6 properties within the next five years.

"In 2014, we saw an opportunity to expand our footprint to Latin America as a response to increased demand in the region's economy travel segment," said Jim Amorosia, President and Chief Executive Officer at G6 Hospitality. "We initiated our strategic global expansion plan in Mexico and will continue in growing our portfolio to other areas in the region to offer leisure and business travelers in every destination the best budget-conscious lodging options."

The new Central American properties will feature elements of the company's award winning, modern-style Phoenix design. "The new Hotel 6 and Estudio 6 properties will satisfy the growing demand in these important markets while offering travelers everything they need to enjoy a comfortable stay at reasonable rates," said Dean Savas, Executive Vice President of Franchising and International Development at G6 Hospitality. "We are delighted to welcome InterAmerican Development Group into the G6 Hospitality family."

Once completed, these new locations will feature modern rooms and spacious areas for social gatherings as well as unique amenities including food and beverage offering, cable TV, internet parking, and the affordability the iconic brand is known for.
"We are excited to play a part in G6 Hospitality's expansion to Central America, and believe that their proven hospitality formula and our local market knowledge will provide for a very successfully partnership, "said Antonio Maldonado, Director InterAmerican Development Group.

With its established network, ambitious renovation efforts in the US, and the strong appeal of its Motel 6, Studio 6, Hotel 6 and Estudio 6 brands, G6 Hospitality continues to establish itself as the leader of the economy lodging segment in the U.S., Canada and soon to be in Latin America.

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Panama: Restaurant Supply Growing

December 2017

The US company DineEquity Inc. has announced the opening of its first restaurant in Panama City, and plans to open four other establishments in the next five years.

From a statement issued by DineEquity Inc.:

DineEquity, Inc.® ("DineEquity"; NYSE:DIN), one of the world's largest full service restaurant companies and the parent company of Applebee's and IHOP® restaurants, has opened the first  Applebee's® Grill + Bar on December 8 in Panama City, Panama it was announced today by Stephen Joyce, CEO and President, International, DineEquity Inc. The restaurant is the first of five locations planned for Panama within the next five years under an agreement with franchisee Collins Restaurant Group, Inc.

Cabcorp Changes its Corporate Image

January 2013

The largest beverage company in Central America and the Caribbean has changed its logo and is now CBC.

From a statement by Cabcorp:

Cabcorp, a corporation in constant evolution, has built strong relationships with food and beverage companies in the world, such as PepsiCo and Ambev; in addition to having developed Livsmart, a business unit exporting non carbonated drinks to over 20 countries.

The IIC and Café Britt Costa Rica S.A. sign an agreement for a loan of up to US$4 million

July 2010

The Inter-American Investment Corporation (IIC) signed a loan agreement for up to US$4 million with Café Britt Costa Rica S.A., a subsidiary of Grupo Britt, N.V.

This IIC loan will provide Café Britt S.A. with appropriate permanent working capital financing that will help it plan its operating funding requirements at the regional level.

Barack Obama Looks Toward the Americas

April 2009

"We can overcome the challenges we share with a sense of unity ... or we can continue with the hackneyed debates of the past."

The president of United States wrote this column for Grupo de Diarios América, which includes some of the most important newspapers in the region.

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