Bids fly in for Peru’s Marriott hotels

A number of buyers are circling Peru’s Marriott hotel
properties in a potential transaction that could net the seller, Inversiones La
Rioja, between $240m and $250m, according to multiple sources familiar with the
Peruvian hotel market.

Inversiones
La Rioja is understood to have opened a second round of bids and could make a
decision as soon as August, in what would be one of Peru’s largest-ever real
estate transactions in years.

The company
owns and operates the JW Marriott hotels in Lima and Cusco as well as the
Courtyard by Marriott brand in Peru.

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