GHL CV19 Facility (IDBI-13254-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Argentina
  • Chile
  • Colombia
  • Costa Rica
  • Dominican Republic
  • Ecuador
  • El Salvador
  • Guatemala
  • Honduras
  • Peru
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 26, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GHL Grupo Hoteles S.C.A ("GHL" or "the Company")
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Mar 25, 2021

Disclosed by Bank Feb 19, 2021


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Project Description

This transaction consists of a seven-year term senior secured loan of up to US$10 million to finance the Company’s working capital needs due to the impact of the COVID-19 pandemic, as well as to support its growth strategy and recovery across Latin American countries such as Argentina, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, and Peru. GHL is a regional multi-brand hotel operator using the highest standards and operational efficiencies to manage hotels under its own brands and under a variety of international flags via franchise agreements.

The proposed financing aims to support the Company's working capital, general institutional needs, and growth strategy.

Investment Description

Consists of a seven-year term senior secured loan

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - GHL Grupo Hoteles S.C.A Client Industry and Trade

Contact Information

For project inquiries please contact:

Name: Felipe Iragorri Londoño

Title:  GHL Investment Director

Phone number:  +57-1-313-9333            

Email:  Felipe.iragorri@ghlhoteles.com

Name: Cesar Recalde

Title: Corporate Human Talent Director 

Phone number: +57-1-313-9333            

Email: cesar.recalde@ghlhoteles.com

For questions and comments to IDB Invest please contact:

Name:  IDB Invest Communication Group

Email:   requestinformation@idbinvest.org

In addition, affected communities can access IDB Invest’s Independent Consultation and Investigation Mechanism (ICIM) as follows:

Phone number:   +1 (202) 623-3952

Fax number:  +1 (202) 312-4057

Address:    1300 New York Ave. NW Washington, DC. USA. 20577

Email:   mecanismo@iadb.org  or MICI@iadb.org