New Plaza Hotel Mendoza S.A. operates under a concession granted by the Province of Mendoza, which extends until the year 2033 and can be renewed until 2038.
The operation, which amounts to US$ 27.8 million - subject to compliance with the results of 2018 -, is part of the international expansion plans of the South African-Chilean company and ratifies it as the most important operator in Latin America. The operation is expected to be fully materialized within the month of July 2018.
"The objective of the company is to position itself in a scenario that has broad concessions and adequate regulation at the provincial level and transparency in the industry, which allows us to project ourselves in the long term with very good prospects," said SunDreams CEO Jaime Wilhelm.
"Sun Dreams is proud to have this luxury format, the highest level of the Hyatt chain worldwide," he added.
In this way, the company adds a new country to its business, which already has establishments in Chile, Peru, Colombia and Panama, plus the four establishments inaugurated in April in the Peruvian cities of Lima, Tacna and Cuzco.
Source: GMB / Estrategia (Chile)
