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