The opening of the Hampton by Hilton Rosario is announced
Argenway launched its second hotel project, again in partnership with Hilton and under the same format. It will be located in the historic center, will have 4,500 m2 and will have 100 rooms of 23 m2 each
Argenway launched its second hotel project, again in partnership with Hilton, and under the same format: Hampton By Hilton Rosario. It will be located in the historic center of the town, surrounded by the Paraná River and its islands, will have 4,500 m2, and will have 100 rooms of 23 m2 each; the architectural design is in charge of the prestigious studio Bodas Miani Anger & Asociados. In turn, it will be integrated into a mixed-use complex with a total of 11,600 m2. In which there will also be a tower of 1, 2 and 3 bedroom apartments, commercial premises, 123 underground garages, a cafe, a gym and corporate coworking space.
The financial proposal of the “Hilton Rosario” implies a ticket in the well that starts at USD 85,000 per whole unit, 50% or half a room at USD 43,500 and a quarter of a room or 25% at USD 22,500. If the contribution is in cash, an “expected rent” of 5% per year is accessed until the effective opening of the hotel. Otherwise, the financed scheme provides for up to 36 fixed installments in dollars, in pesos adjustable by CAC or a combination of both, at the investor's choice. This investment alternative is repositioned within the uncertain situation, proposing the historical security of the brick, adding a higher annual profitability in the medium and long term.
Between the ups and downs of the national economy and the global pandemic context, the main alternatives for safeguarding private capital appear. Covid-19 has set off alarms around the world, the economy has been badly affected by the pandemic and aims to leave consequences that will produce changes in the world order. Argentina has been going through a process of economic stagnation for more than a decade, now accentuated by the 2020 quarantine. However, this stage full of uncertainties has not come to affect certain paradigms, such as the traditional security granted by the real estate developments as an alternative to safeguard value and eventual capitalization. Meanwhile, sectors such as tourism and the hotel industry that are highly affected by the situation, see a special opportunity in the medium term.
The appreciation of the exchange rate in Argentina excites national tourism for the future. Since the increase in cost of traveling abroad will once again produce - as in the 2002-2009 period - that Argentines choose to vacation within the country, while at the same time more and more foreigners will arrive at our destinations not only because of their attractiveness. natural and cultural, but now also due to its relative cheaper compared to other countries. Currency and exchange rate aside, there is international consensus that post-pandemic tourist destinations with natural environments will prevail, after so many months of confinement plus a certain residual fear of avoiding closed places and crowds. In that perspective Argentina takes advantages.
Likewise, corporate destinations such as Buenos Aires, Rosario and Córdoba, also foresee a significant recovery since their hotel rooms are usually linked to the economic rebound in their regions, a scenario with a high probability of occurrence, after the sharp falls in GDP in 2018, 2019 and 2020. In this sense, the hotel industry for business trips plans to focus on new hotels, with international sanitary standards and at the same time offering more accessible rates than the 5 stars.
On the other hand, the depreciation of construction costs measured in dollars on Argentine soil, reaching a historic low, opening a new opportunity for both developers and investors. The complicated situation, paradoxically, generates a window of opportunity for those who have the capacity to generate surpluses in pesos, which can turn it over to the construction of projects in the well.