Published On: Wed, Nov 2nd, 2016

There is interest for Plaza Hotel

Plaza HotelWILLEMSTAD - Outgoing Minister of Economic Development, Eugene Rhuggenaath, hopes that the sale of the Plaza Hotel located in downtown Punda can take place as soon as possible.

Recently it was announced that there are several seriously interested buyers. But the Minister did not want to say who these potential buyers are. The Curaçao Investment & Export Promotion Agency (CINEX), which plays an important role in this process as a facilitator, also refrained from commenting on the new developments.

The organization has contact with several creditors including Aqualectra and the Social Insurance Bank (SVB). The hotel has millions in outstanding debt with these two creditors. In September, the electricity was cut off because the bill had not been paid. Following an intervention by CINEX, the power was reconnected.

The hotel is owned by Layne Rachowicz, who remained the sole proprietor after a protracted conflict with two business associates years ago.

It situation of the hotel went only downhill. There are too few guests and the entire building is in an urgent need of renovation.

 

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