Sheraton Asunción was sold to Grupo Cartes
The transaction involves the sale of the leading group of hotels in the country by renowned local businessmen to the Cartes Group. The transaction involves three assets:- The “Sheraton Asuncion”: located in Asuncion’s premium district, this 5-star hotel is the market leader; it has a capacity of 118 suites;- The “Aloft Asuncion”: the hotel opened in early 2016 and is located next to the World Trade Center complex; it has 120 rooms; and- The “Four Points by Sheraton” in Ciudad del Este; construction began in November 2015 The three hotels are operated by the "Marriot-Starwood" chain, under long term management contracts Alpax acted as exclusive financial advisor to the sellers
Alpax is an independent investment bank that provides financial advice on mergers, acquisitions and fundraising in Latin America. The firm was founded in 2003 and has closed more than 120 transactions in M&A and Fundraising (in excess of US$4,000 million). Their added value is based on the international experience of their executives, local presence, a network of offices in five countries and a detailed knowledge of the sectors and industries in which they participate. Alpax is headquartered in Miami and currently has local offices in Bogota, Quito, Buenos Aires and Asuncion. Two additional offices will open in June 2015.