García & Bodán advices Central America’s Hilton Princess Hotels in an important financial restructuring
García & Bodán, through its Associates Oscar Torres, Jose Rosales and Luis Ramírez from El Salvador, Guatemala and Nicaragua respectively, and its Partner Ricardo Duarte, from Honduras, ended successfully an important financial transaction for the Hilton Princess Hotels in Central America, which consisted in the operation of credit restructuring and a financial guarantee of the hotels´ owners societies located in the mentioned cities.
The transaction allowed us to guide the hotels chain in the formalization and manipulation of an important Bridge/Decreasing Credit that the Scotiabank El Salvador, S.A. gave to the hotels chain through the company Holding named Hospiteum Corporation; as well as the mortgage guarantees consent of its hotels in the region that as a whole are valued in a significant amount.
The advice provided consisted in the elaboration of all the legal documents required by the financial institution for the liberation and constitution of new mortgages until the registration in the Property Register Office of these mentioned countries were concluded; in the elaboration of the documents, it’s included the clauses review in order to protect the interests of the client.
The Hilton Princess Hotels acquired the franchise of one of the most prestigious and important hotel brands worldwide, and since 2004 award its franchise to the hotels located in Honduras and Nicaragua, in 2015 it was incorporated the Hilton Garden Inn in Guatemala whom operates since 1993, increasing his operation facing the necessity of establishing in the Central American market a hotel industry set that contains the most high qualified international standards of efficiency, with the warmth and cordiality of the service.