GHL CV19 Facility (IDBI-13254-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Argentina
  • Chile
  • Colombia
  • Costa Rica
  • Dominican Republic
  • Ecuador
  • El Salvador
  • Guatemala
  • Honduras
  • Peru
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 26, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
GHL Grupo Hoteles S.C.A ("GHL" or "the Company")
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Mar 25, 2021

Disclosed by Bank Feb 19, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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

How it works

How it works