EX GARCIA MORENO PENITENTIARY
- Project Type: Hotel – Real Estate
- Opportunity: First Class Hotel, Experiential Tourism
- Province: Pichincha
Convert the García Moreno ex-Penitentiary on a first-class hotel, in which guests interact with the community, Mountain and culture.
Pichincha Province – Quito. Quito Centre, Close Yaku Museum (water museum in which events unfold and cultural activities ) and the Humboldt Road – Pichincha (route that leads to the top of Pichincha volcano).
International tourist focused on nature, mountain and culture related experiential tourism , with sustainability awareness.
Estimated investment needs
Investment needed to transform a former criminal to first class hotel. Renovation of a building that is listed as an architectural heritage of the city. Patrimonial Area: construction: 14.000 m2 for hospitality services – 6.000 m2 for outdoor areas. Price: To be determined
Emergency Temporary Investment
In coordination with the Gobernmental agenda the redevelopment of the site, including the rehabilitation of the San Roque Market, extension of the 24 of May shaft, connection with YAKU Museum Hotel, recovery of public space in the area.
Investment Profile Wanted
Financial investor with experiential knowledge of the hotel business know-how to provide management of hotel assets.
Agreed Draft Model for Property
The State has developed a rehabilitation agenda of the area with an investment of 30 Millions USD. Land ownership will be under the State, the investor will have total hotel management. The investor will keep the agreement until full recovery of flows of the project, after which, the investor can decide to continue as manager or the investment will return to the State.
Suitable Preliminary Management Model
Subject to negotiation.
Limited competition – Development of comprehensive plans for urban improvement in the area – Variety of tourist activities related to the mountain and coexistence with the community.