Published On: Mon, Aug 24th, 2015

ORCO Group preferred negotiating partner Rif Resort Hotel

MarriottWILLEMSTAD - The Orco Group is the best candidate for the proposed acquisition of the hotel the complex Rif Resort Hotel which is now managed by Marriott.

Lionstone of the Argentine-American business family Lowenstein that with Hilton, Floris Suite and Sunscape buildings already has three hotels in Curaçao,  comes with a small difference in second place.

Lionstone, however, will not throw the towel in the ring since there is still no agreement with Orco Group. The negotiating parties will give content to the contract in the coming days. First, both Orco Group and Lionstone will be asked to formally confirm that they will stick to their bid.

For Curaçao it is not just about the bid, but especially the plan for investment and upgrading in the hotel complex and facilities. Lionstone offered 14 million dollars to purchase the complex, while Orco Group offered 14 million dollars. The difference is that Orco Group wants to invest 30 million dollars to upgrade the hotel complex and Lionstone 15 million dollars.

Orco Group also wants to expand the number of rooms from 247 now with at least another 50 rooms which will greatly improve the viability. Everything indicates that the group intends to continue with Marriott as the operator of the luxury hotel.

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