The Inter-American Development Bank has approved a plan to loan $42 million to Caribe Hospitality S.A. for it to build eight Marriott hotels in the Americas. One hotel is the 127-room Marriott Courtyard in Alajuela, near the Juan Santamaría airport, the bank said.
Other hotels will be in Nicaragua, Guatemala, Panamá, Jamaica, Trinidad and Tobago, and Mexico.
To receive funding under the Financing Facility the hotels must be capable of obtaining Leadership in Energy and Environmental Design certification, which has become the dominant standard for green building design and requires buildings to meet specific parameters in areas such as energy conservation, efficiency in water use, CO2 emissions, improved indoor environmental quality and resource management.
In Latin America and the Caribbean, most of the certified buildings completed until now have been offices or commercial spaces located primarily in Mexico and Brazil.
Caribe Hospitality S.A., a holding company headquartered in Costa Rica created to develop Marriott-operated hotels in the Central American and Caribbean regions, will develop the projects and Marriott International, Inc., will be responsible for running them.