Peru OEH II

completed

Peru Orient Express Hotels (POEH or the company), an existing IFC client, has approached IFC to provide a loan of up to $13.0 million to help the company: - undertake a $19.84 million refurbishment of two of its properties in Peru, the Nazarenas Convent in Cusco and the El Parador del Colca Lodge in the Colca Valley; and- refinance existing loans associated with the Machu Picchu Sanctuary Lodge (MPSL) and the Hotel Monasterio.- Nazarenas ConventPOEH has a concession agreement in place to operate the 17th century Nazarenas Convent sits on 1.3 acres adjacent to the Hotel Monasterio in Cusco and will be transformed into a 55-room all-suite hotel. Each of the Nazarenas’ rooms will be sizable and unique in design. The property will contain guestrooms, a small spa and pool area and guests will use the reception, restaurants and other central facilities of the Monasterio. - El Parador del ColcaThis seven (7) room lodge will be refurbished into a 20 room property and branded and marketed as an OEH property. The Colca Lodge is located in the Colca valley, which is one of the most scenic regions in Peru. The Valley has experienced a rise in tourist numbers, with travelers enjoying the many outdoor activities and the majestic, giant condors at Cruz del Cóndor looking over the Colca Canyon.