As well as the recent opening of a hotel by the Marriott chain and another one by Multi-Inversiones, three more establishments will be added in the capital in the coming months.
After a few years of relative calm, the hotel market in Guatemala is starting to recover with the opening of new stores, some by brands already present in the country and some by new ones.
Latam Hotel Corporation will build and operate, beggining in 2016, a Hyatt Place hotel with 140 rooms in the Cascadas shopping center in San Salvador.
From a statement issued by the Agency for Investment Promotion and Export El Salvador (Proesa):
With an investment of more than USD 36 million, the Government of El Salvador in conjunction with Latam Hotel Corporation has laid the first stone where the Hyatt Place San Salvador hotel will be built.
The businessman Fernando Paiz has signaled his intention to increase investment in the agricultural, hospitality, energy and food industries.
Clear rules, stable economic growth and an investment-friendly environment are, according to the Guatemalan businessman Fernando Paiz Andrade, the main attractions for increasing investment in Nicaragua.
Paiz said to Laprensa.com.ni: "Nicaragua to me is a very important market.
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 .
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.
A group of Guatemalan businessmen led by Fernando Paiz, intend to use the idea of associating a passengers transfer center with a shopping center, something which has already been done in Panama.
"The business model of merging a transport terminal which provides sufficient human traffic with a large commercial center, and at the same time satisfies the purchasing needs of travelers who pass through it, or what can be seen today at Albrook Mall and the Great Panamanian Transport Terminal, will be copied in Guatemala," reports Laestrella.com.pa.
A Foundation groups the major corporations that operate in Guatemala. Their first project: to develop El Mirador, an invaluable archaeological site.
In Guatemala a new model has been developed where the companies can contribute to important projects. The Pacunam Foundation, groups the major corporations that operate in country. These include: Wal-Mart Central America, Telgua, Cementos Progreso, Grupo Pantaleón, Citi, Cervecería Centroamericana and Banco Industrial. Their first project will be to finance the development of the El Mirador basin, one of the old sites of the Maya civilization.