The hotel developer is a leading regional high-end hospitality provider
Cartagena, Colombia - November 25, 2024
As the leading hospitality economic and project development firm in the historic city center over the prior decade, the developer hires Excend to structure and execute a transaction requiring $35MM to develop its next luxury hotel property in the area.
Within five years of project inception the hotel property projects an average daily rate (ADR) of $426 and an occupancy level of 75%.
Economic indicators bode favorably for the project as occupancy of luxury hospitality properties has increased from 50% to 70% over the previous 12 years--proving that the historic city center is an increasingly sought after destination for affluent travelers.
About Excend
Excend provides investment banking services to middle market organizations.
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