Nicaragua attracts hotel investment

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Nicaragua attracts hotel investment
Wed May 30, 2018

The growth that has been showing the tourist activity in the Central American country has caught the interest not only of local businessmen but also international hotel chains


The figures show positive prospects for this industry. In the past year it managed to capture revenues of $ 733 million, an increase of 14% and a flow of tourists that increased by about 20% to reach 1.7 million passengers.

In this 2018 various hotel investments are already reported. In San Juan del Sur, the Santa María project is the most important since a total of $ 40 million will be allocated and an area of ​​20,000 m2.

The first phase includes eight villas, three apartment buildings, a commercial area, a clubhouse, gymnasium, courts, among others; and it will be delivered this year.

The Selina chain will invest $ 10 million, an amount that will be used in hotels in Playas Madera, Granada and a third hotel in San Juan del Sur.

At the Hotel Selina in Playa Maderas, guests have the opportunity to practice surfing as the site is considered one of the best to practice this sport.

"Nicaragua offers a good investment climate, the legal and citizen security that the country enjoys, adding to the opportunities that exist with the public-private partnership," said Martín Sierra, manager of Selina Maderas.

The city of Rivas will also house a luxury hotel with a colonial style called Gran Victoria, located in a building declared historical and cultural heritage, which will keep its original facade.

The investment is local capital. María Eugenia Mejicano, project manager explained that the construction area will be 1,850 m2, becoming the first of its kind in the city with a category of 4 stars.

According to the Nicaraguan Institute of Tourism (Intur), there are currently three hotels in Rivas.

In the coastal strip of Tola, a $ 20 million tourist complex is built, called Surf Ranch Hotel & Resort-Emerald Coast Popoyo.

The resort will have the capacity to accommodate 312 people per night and is in the process of building the building where the complex of apartments and commercial modules will operate, which includes the area of ​​restaurants and shops.

The Canadian origin investors explained that they were attracted by the charms of the pacific coast of Nicaragua and after coming into contact with this country they decided to return and invest their savings in tourist complexes.

In Managua, the Crowne Plaza hotels, the Holiday Inn Convention Center, the Real Intercontinental Metrocentro Hotel and the Best Western Hotel Las Mercedes decided to invest to renovate their facilities. These hotels together allocated $ 15 million with the conviction of reinventing themselves and being more competitive with the growth experienced by the country in tourism.

In the Nicaraguan capital, the Radisson hotel chain also announced its intention to open a new hotel this year. The project will be located next to the Olof Palme Convention Center and will have 138 rooms and suites.

Currently, the spending capacity of visitors is up to $ 48.1 per day and per stay 10.3 according to data from the Central Bank of Nicaragua.

For this 2018, the sector expects to generate up to $ 900 million, higher than projected by the tourism authorities that calculated in $ 811.1 million.

Lucy Valenty, president of Canatur indicated that if the country manages to increase average spending twice, the industry would generate more than $ 1.5 million per year.

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