The hotel chain InterContinental Hotels Group announced the signing of two contracts for Holiday Inn Express hotels in Managua and Tegucigalpa respectively.
In total the two properties represent an increase of 220 rooms for the Holiday Inn brand family in Latin America and the Caribbean, where there are currently 18 Holiday Inn Express hotels and 24 Holiday Inn hotels.
Grupo Karim's has began construction of Altara, the first technology park in San Pedro Sula, Honduras, which includes a shopping mall and a hotel.
The President of Grupo Karim’s, Yusuf Amdani said that in the future the project will include construction of a residential condominium and a hospital.
The business center is adjacent to Altia, the first technology park in San Pedro Sula, Honduras.
Grupo Karim´s has announced an investment of $15 million in a service-oriented shopping center, which includes a seventy room hotel.
Kathia Yacamán, marketing director at Altia, said the Altara mall, on two levels, will be built on an area of 21,500 square meters, and the hotel Altia Place Hotel will have 70 rooms on eight levels.
Construction of the center will generate 200 direct jobs and is expected to be in operation by the end of next year, the executive added.
The Colombian Decameron Group is expanding its investments in Latin America in 2012, including the opening of two hotels in Costa Rica and one in Panama.
In Costa Rica, Decameron will open this year a 330-room Royal Decameron Irazu in San Jose, and one in Jaco Beach, with 130 rooms.
"In April, they will open the first Hard Rock hotel in Central and South America, which will be located in Panama and will have 1,463 rooms.
With the first payout of a $15.9 million from a syndicated loan worth $24 million, construction of the second stage of the tourism project in Honduras will begin.
The banks, Ficohsa, BAC Honduras, Ficensa, Rural Development Bank in Guatemala and Panama's Banco Pichincha had already approved a syndicated loan of $24 million to finance the tourism project.
The touristic development, to be located in the Tela Bay, finally landed funding from 5 financial institutions.
Ficohsa, BAC Honduras, Ficensa, Guatemala's "Banco de Desarrollo Rural" and Panama's "Banco Pichincha" approved a $24 million structured credit to fund this initiative.
Javier Atala, manager of Ficohsa Bank, noted that this project will contribute to the tourism industry and will help promote Honduras as one of Central America's leading tourist destinations.
$5 million will be invested in developing a golf course in the Honduran touristic project known as “Los Micos Beach and Golf Resort”.
The 18-hole course will be designed by Gary Player, a renowned designer with over 300 golf courses around the globe, and will be funded with resources from the investors behind the group called “Desarrollo Turístico Bahía de Tela”.
$43 million will be invested in developing the second stage of this Honduran tourism project, between July 2010 and October 2012.
The new stage comprises a 120-room, 5-star hotel and an 18-hole golf course, plus a golf club, commercial spaces, a beach club and complementary infrastructure.
Its developers will soon start commercializing lots and residential villas.
The touristic endeavor started with the construction of the first of two hotels, after the government completed basic infrastructure works.
Juan Canahuati, president of the board of project Los Micos Beach & Resort, explained that one of the hotels belongs to Westin Hotel Resorts, and the other to Conrad Hotel and Resorts.
The cost of the first hotel would be close to $102 million, according to newspaper Laprensa.hn.
Grupo Real will build a 5 star hotel in southwestern San Pedro Sula.
Pedro Castro, from hotel chain Real Intercontinental, explained the project was scheduled to begin in 2009, but was postponed due to the economic and political crisis experienced by the country.
From Tiempo.hn: "The new hotel will feature 150 rooms and all the facilities demanded by a project of this category".
Pristine Bay Resort, a touristic complex spanning 180 hectares, is being built in Roatán.
The project will be developed over the next 10 years, and includes a golf course designed by Pete and Perry Dye, two five star hotels and residential units.
Pablo García Salas, sales manager, told Elperiodico.com.gt: "The first phase, currently under construction, consists of 70 lots, 30 villas and 16 condos. It is almost completely sold".
The group announced a $1.2 million investment in Intercontinental Hotel in Tegucigalpa.
They are also planning investments in the city of San Pedro Sula somewhen in 2010, added Salvadoran entrepreneur Fernando Poma.
"In Central America we've had difficult times, and we are going to overcome these", said the businessmen, referring to the current political crisis in Honduras and economic situation in the region.
In November, the Honduran Tourism Institute will hand the completed infrastructure of the public-private venture.
With a $15 million investment, Honduras government developed the project's infrastructure, including paving, water supply, sewerage and the sanitation system.
"According to the Honduran Tourism Institute, it would be Hilton, through its Westin brand, the company operating 'Bahía de Tela' (Tela Bay).
After a $15 million investment, the hotel will be inaugurated in San Pedro Sula in September.
The 110-room project aims to lead the recovery for Central American business tourism, reported Héctor Santos, from "Desarrollos Monumentales", owner of the franchise.
Santos told Laprensahn.com that business tourism was "... the most affected by the global financial recession and the national political crisis".
Intercontinental Hotels Group and the Agrisal Group will invest $70 million in the construction of seven hotels over five years.
The project anticipates the opening of seven Holiday Inn hotels, beginning with one in Escazú, Costa Rica. The others will be built in Antigua (Guatemala), Tegucigalpa and San Pedro Sula (Honduras); Managua (Nicaragua), and San Salvador (El Salvador).