Curacao to Add New International Franchise to Hotel Offering

CMC Real Estate N.V. announced its plans to open the first Courtyard by Marriott brand hotel in Curacao in the Rif area of Otrobanda.

The 177-rooms and suites Courtyard by Marriott hotel, scheduled to open in 2017, will be located next to the social security bank SVB and facing the Mega Pier. The property will be part of a mixed-used development that will include condominiums, retail space, an entertainment area, three restaurants and a casino.

The project is an initiative of Gold Investment Curacao N.V. and has as shareholders three local parties, namely Gold Investment Curacao N.V. itself, Vidanova Pension Fund and Foundation Pension Fund Isla Curacao as well as two international hotel and casino developers and operators. The last two being Interamerican Promo Hotels Inc., from the USA, and BE Boulevard, from Guayaquil, Ecuador.

The project has gone through a preparation phase of 4 years during which not only discussions were held with Marriott International, to acquire the franchise, but also local parties in order to procure a proper execution of all the necessary steps related to such a development.

The decision for the Courtyard by Marriott brand was based on the international recognition that this offers in the business and tourism markets catered by the island. As developer, CMC Real Estate deems the Courtyard by Marriott brand a perfect fit for this hotel, and combined with Marriott’s backbone and sales engine, we are confident that the hotel will be highly successful and play a large role in the continued emergence of Curacao as a leisure and business destination in major international markets.

The hotel will feature the brand’s signature refreshing business lobby, lobby bar, a coffee shop, and a resort style outdoor pool and terrace, fitness center and flexible meeting space. Additionally, it will include the brand’s new modern guestroom design which is intuitive and thoughtful, offering flexible yet comfortable spaces that enable technology.

According to Mr. Craig S. Smith, President of the Caribbean & Latin America region at Marriott International, the changing economic climate across the world and today’s technology has changed how people travel. Marriott’s guests want a room that has purpose and flexibility that enables a seamless transition between relaxing and working. Courtyard is designed to offer them a relaxing and functional space to work and enjoy their vacation the way they want to, when they want to.”

“With the success of the brand across Latin America and the Caribbean, the Courtyard by Marriott brand has become a favorite amongst regional travelers”, Laurent de Kousemaeker, Chief Development Officer, Caribbean & Latin America, Marriott International. “The new hotel in Curacao will be a significant milestone in our rapid expansion across the Caribbean.”

It is the expectation that the development of the hotel as well as the retail, casino and entertainment area, to be known as Mega Pier Plaza, will contribute to the positive economic development of the island.

The construction period of the Courtyard by Marriott Curacao Hotel and Mega Pier Plaza is projected to start in the second half of 2015 while the soft opening is contemplated for the first quarter of 2017. Once completed, the Courtyard by Marriott Curacao Hotel and Mega Pier Plaza will employ approximately 250 people directly and indirectly through the different commercial activities performed from its location.

The cooperation received from the Government of Curacao, the different Ministers (Economic Development, General Affairs, Finance and Infrastructure) as well as the different government departments (ROP, OW and Domeinbeheer) has enabled CMC Real Estate to achieve not only the addition of an international hotel brand to the island’s touristic and business product offering but also the prompt and effective execution of a project of such magnitude.