Luxury Properties to spend up to US$15mil in five years

Italian hotel chain Luxury Properties plans to invest between US$10mil and US$15mil in Peru over the next five years, says its local general director, Jose Carlos Canales. It will build three boutique hotels, one in Cusco, another in Lima and a third in an as yet undecided location. The hotels will respect the colonial style of the buildings acquired. Luxury carried out a pre-inauguration a few months back of the hotel Casa Cartagena Luxury Properties & Spa in Cusco after spending of US$5mil. The establishment is Patrimonio Historico de Peru, named so by both the Instituto Nacional de Cultura (INC) and the Congreso de la Republica. It now features 16 150-square-metre suites and a big spa as well as a gourmet restaurant and bar. Luxury's next local project is likely to be the boutique hotel in Lima.

Publication: SABI - Business News
Provider: South American Business Information
Date: October 9, 2008