Company name
GHL Grupo Hoteles S.C.A (“GHL” o “la Compañía”)
Project number
13254-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Colombia
Sector
Tourism
Status
Inactive
Disclosed date
02/19/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/05/2021
Approval date
08/05/2021
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
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.
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ADENDUM: On February 24, 2021 the publication was revised to include Panama in the Project Scope and Objective and IDB Invest Participation.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
Felipe.iragorri@ghlhoteles.com
PHONE NUMBER
+57-1-313-9333
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
GHL - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
839.7 Kb
GHL-ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
481.3 Kb