Wyndham Hotels and Resorts in association with a Colombian entrepreneur announced the construction of a luxury hotel complex in Bogota, economic weekly Portafolio reported Tuesday.
With an investment of $78.5 million, the Capital Towers project is to be constructed by Luis Fernando Correa real estate group on a site in front of the American Embassy and the Prosecutor General’s Office on Avenida Las Americas in Colombia’s capital.
Two hotels are to be built on the complex, the first opening in June with 268 rooms. Aimed at business travelers, with high speed internet and fitness rooms, this hotel is to be run by the Tryp group, a hotelier under the Wyndham umbrella and will be called Tryp Embassy.
The second hotel is due to open in December with 285 rooms. This means that the Wyndham Hotel Group will operate 89% of the 621 new hotel rooms that will go into operation in Colombia this year.
Market surveys carried out show that occupancy levels in the area are optimum at 75%. “So the market is there” said Daniel Matis, commercial manager at Luis F. Correa Commercial Network.
In addition to this, the Skipton Group, owned by Colombian businessman Carlos Franco Amastha, will build three hotels in Brazil with an investment of $28 million.
