Colinversiones Draws Interest in Hotels

Colombia’s Colinversiones has received expressions of interest from several parties who want to acquire its hotel portfolio, which the company deems as non-core, says a company spokeswoman. In March 2009, Colinversiones CEO Juan Guillermo Londono said the company was investing $20m to revamp the hotels with the intention of eventually selling them. Colinversiones has majority stakes in Intercontinental in Medellin, Hotel de Pereira and Las Lomas in Rio Negro. Altogether, they have some 650 rooms. Proceeds from the potential sale would go to improve and expand Colinversiones’ energy assets and for acquisitions. The company owns electricity generators Termoflores, Merilectrica, Generar, Flores IV and Hidromontanitas, which together generate 819MW.