Description: Colombia’s 5th largest hotel chain with 8 strategically located hotels in 6 of the country’s most influential regions.
www.movichhotels.com

Country: Colombia
Sector: Hotels
Strategy: Growth
Investment Date: April – 2013

INVESTMENT RATIONALE

Iconic and strategically located real-estate assets in colombia’s major cities.

Sector demonstrating strong growth and consolidation potential.

Insufficient supply of hotel rooms in Colombia.

Foreseeable synergies and commercial alliances with airline companies.

Tax advantages for hotels built or remodeled before 2017.

STRATEGIES FOR VALUE CREATION

SOME OF THE UNDERTAKEN INITIATIVES

Administrative reorganization: Key appointments CEO and CFO.

Definition of Movich’s strategic value proposition.

Operational expansion: 2 new hotels with 399 rooms (Buró 26 in Bogota and Buró 51 in Barranquilla) and 1 expansion of 111 rooms (Hotel Las Lomas in Medellin).

Redesign and standarization of the hotels’ infrastructure with support of an international consultancy.

Refinancing of long-term debt, generating savings.

Creation of the “Movich Dreams” loyalty program.

Remodeling and opening of restaurants to boost food and beverage revenues.