Molinaro Koger Sells former Le Méridien Guyana On Behalf of Lehman/Starwood JV
Felicity Black-Roberts for the Starman joint venture said, “I am delighted with the outcome of this sale for my investors and I have every confidence that the purchaser will develop the hotel further in this very interesting market.”
A spokesperson for Saraha stated, “Sahara is happy to announce its investment in the shares of Pegasus Hotel of Guyana Ltd. The Pegasus, as it is called, is the true icon of the Guyanese hospitality and business landscape, and the management of Sahara would like to build on the existing goodwill and strengthen it over the coming years. To this end we plan a US $3 million upgrade of the hotel to elevate the level of hospitality and comfort to that offered by a true five star hotel. While we will build on its strength as a business hotel, we will add a unique eco-tourism flavour consistent with Guyana's vast potential in this area. This is a truly exciting new era for the hotel and the employees.”
Alvarez noted, “Despite the ongoing economic crisis in many countries, there are always pockets of opportunity for nimble investors. This environment calls for a surgical approach on the part of all constituents to a transaction and we were pleased to be able to orchestrate a trade that satisfied the strategic goals of our client.”
Both Mr. Alvarez and Mr. Grassle predict significant upside for Sahara with their new acquisition. Prior to the sale, the hotel achieved significant growth in RevPAR over the previous year. The new owners have the opportunity to capitalize on the property’s irreplaceable location in the nation’s capital and position as the country’s social center by improving the existing restaurants, bars, meeting spaces and guestrooms of the Guyana Pegasus.
Currently, the Guyana Pegasus is the preeminent hotel in the Georgetown lodging market given its facilities, amenities, and location. The hotel provides guests with a resort atmosphere combined with all of the conveniences of a business hotel. Visitor arrivals in Guyana are forecast to increase over the next decade as the result of worldwide growth in the heritage, adventure, and eco-tourism segments. Guyana has a growing international reputation of providing an ideal alternative to the Caribbean sun and sand vacation, offering travelers unspoiled beauty, unique cultural heritage, and distinct natural spaces – including, savannahs, virgin rainforests, mountains, huge rivers, and waterfalls.
For further information about this transaction and other hotel properties offered for sale around the globe, please contact Jose Alvarez at 646.233.5882 or firstname.lastname@example.org.
ABOUT MOLINARO KOGER | Founded in 1959, Molinaro Koger (MK) is the world’s leading hotel-exclusive real estate brokerage, advisory and capital markets firm. MK provides clients with unparalleled service and commitment. During the past four decades the company has closed more than $15 billion in hotel property sales. Headquartered in Washington, DC, MK’s offices are located in Atlanta, Chicago, Cincinnati, Dallas, Los Angeles, New York, Phoenix, San Francisco, London, Mumbai, Beijing, and Shanghai.
MK structures transactions of luxury hotels and resorts, in addition to urban and mid-scale properties throughout the Americas, Europe, India, China and the Middle East. The firm closes, on average, more than 75 hotel transactions each year. Each member of the MK team possesses a unique perspective and invaluable insight. Together they have leading-edge expertise in every aspect of the hospitality business.
For further information about this transaction and current hotel property offerings, please contact MK at 703.760.9600 or visit .
Sharon Lemon (MK)