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.
$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.
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.
Only Honduras, of the seven countries in Central America, offers all of these tourist attractions, making it a major draw for high-end hospitality and tourism investment.
Only Honduras, of the seven countries in Central America, offers all of these tourist attractions, making it a major draw for high-end hospitality and tourism investment.
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