Representatives from 13 companies from the Asian country are in Honduras exploring business opportunities in the agro-industry, mining, tourism and construction sectors.
Latribuna.hn reports that "...The delegation led by the Asian consortium Dong J & V Group will be staying in Honduras for two weeks, making several tours to different production areas and signing cooperation agreements with the Honduran government.
Honduran businessmen will be visiting Peru from April 1st to 5th to explore trade and investment opportunities.
The mission will be led by Assistant Secretary for Economic and Trade Integration and consists of 25 entrepreneurs from the construction, coffee, agribusiness and tourism, sectors among others.
"This mission will be a great opportunity for Honduran businessmen interested in doing business in Peru, as well as for identifying investments for Peruvian entrepreneurs in our country," said President of the Federation of Chambers of Commerce of Honduras, Obdulio Hernandez.
The hotel franchise La Quinta Inn & Suites is building its first hotel in Central America in the city of Tegucigalpa.
The project will be called LQ Las Cascadas and is expected to open in late 2014.
Latribuna.hn reports: "Hoteles La Quinta is one of the largest hotel franchise companies, in addition to being owners and operators in the United States, Mexico and Canada, offering Business Class services with an innovative idea that distinguishes them from other hotels ".
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.
Two separate hotel projects have been announced in the Honduran capital and in San Pedro Sula, with an investment of $45 million.
Fernando Paiz Andrade, president of the Latam Hotel Corporation, said that the Hyatt Place will be built in the exclusive area of paseo Los Próceres in Tegucigalpa, at a cost of $15 million.
Other hotel investment by Latam Hotel Investments Corp, a subsidiary of Hyatt Hotels Corporation, were announced in El Salvador, Guatemala and Nicaragua.
It is very difficult to understand as reasonable the Costa Rican Comptroller's annulment of the award for a Convention Centre by the Costa Rican Tourism Institute.
EDITORIAL
An article in Elfinancierocr.com reviews the details of a situation that is being repeated ad nauseum in most Central American countries, namely the difficulty of awarding important public works contracts with a minimum of speed and efficiency.
The Trujillo Beach Eco-Development has been announced, with an investment of $50 million in an 600 hectare area which will feature residences for Canadian and Israeli citizens, in the form of condominiums and a hotel.
To date 40% of the total planned cost has been invested, which is $50 million. The "Trujillo Beach Eco-Development" project will be developed in a 600 hectare area in the area of Viejo Marañones, in the vicinity of Lake Guaymoreto.
Balboa Bank & Trust, will support the Micos Beach & Golf Resort tourism project providing a loan for $2.5 million.
Diana Villeda, chief financial officer of Tela Bay Tourist Development (DTBT in Spanish) announced that an amendment will be made to the syndicated loan agreement, integrating this contribution and bringing the total credit to $26 million.
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.
The Inter-American Development Bank will finance "Playa Equipada", a touristic endeavor located in Tela.
René Gómez, who heads the Municipal Tourism Unit (UMT), explained that "Playa Equipada" will comprise recreation areas, kiosks, pedestrian areas, playgrounds for children and a pier for motorboats.
Gomez added: "the project will take between two and three years to complete, creating direct and indirect jobs related to construction.
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".
The "Key View Hotel and Condominiums" project, located in La Ceiba, includes a condominium tower and a five star hotel.
The company in charge of the construction is Inmobiliaria Turística del Caribe, which has more than 10 years of experience in this type of work.
The bank that is financing the tourism project is Wachovia of New York and Ficohsa in Honduras.