Colombia. The real estate fund Credicorp Capital made an investment of $46 billion Colombian pesos to become a majority partner of the Ibis hotel brand in Colombia. Ibis currently has three properties in the country, to which four more establishments will be added in the next three years.
According to local media Ibis and Credicorp, the Ibis Museo Bogotá and Ibis Medellín hotels will be the first two to be part of the transaction and only from March next year will the Ibis Marbella Cartagena be added.
Johana Ayala, development manager for Colombia, Ecuador and Central America of Accor, the company in charge of the operation of Ibis hotels, explained that brands aimed at the economic segment have greater growth potential in the country.
"The budget hotel business is a volume business, they are very efficient with very low fixed costs and a very high profit margin. Our expansion is focusing on cities such as Cali, Bucaramanga, Pereira and a new one in Bogotá," he said.
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