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