El Salvador: US-Based Hyatt Hotels Corp. Puts a Cautious Toe in the Water
One criticism of foreign investors, particularly those in the United States, is their reluctance to be "completely in" when choosing to invest in a developing country.
US-based Hyatt Hotel Corp. has chosen to open its first hotel in El Salvador, a modest $36 million project that is expected to add 300 direct jobs in San Salvador in a country of 6.4 million residents. Antiguo Cuscatlán, the location selected for the new Hyatt hotel will be situated in the municipality of La Libertad department
of El Salvador. This suburb is also part of the Metropolitan Area of San
Salvador, southwest of San Salvador and southeast of Santa Tecla. The
population is approximately 49,000.
The future Hyatt Place San Salvador will rise in a shopping center in Antiguo Cuscatlán, a suburb of El Salvador's capital, the Salvadoran Export and Investment Promotion Agency, (PROESA) announced. COMMENT: Any business operation functioning in El Salvador must be fully cognizant of the security risks that prevail in the country each day. That being said, for properties that effectively protect their interests and staff, the profits can be lucrative. According to the US Department of State's Bureau of Diplomatic Security (DS), the 2014 Crime and Safety Report reveals that El Salvador is one of the most violent countries in the world: https://www.osac.gov/pages/ContentReportDetails.aspx?cid=15771
The hotel should begin operating in the first half of 2016.
The 140-room hotel will offer features "such as sustainability, energy efficiency, comfort and multiple services for customers, and its design will be innovative," PROESA director William Granadino said.
Hyatt Hotels Corporation operates 483 hotels in 45 countries and plans to build hotels in Guatemala, Nicaragua and Honduras, the agency said.
I retired from the US State Department in April 2006, after a career as a special agent, Senior Regional Security Officer (SRSO), director of training, chief investigator of the Cyprus Missing Persons Program, director of security of the U.S. Agency for International Development (USAID) and as a senior adviser in the Office of Anti-Terrorism Assistance.
My book, STAYING SAFE ABROAD: TRAVELING, WORKING AND LIVING IN A POST-9/11 WORLD was published in May 2008.
A complete update of STAYING SAFE ABROAD 2015, will be release during early 2015 for the iPad, Kindle and Nook and other e-readers.
I am a former Federal Firearms Dealer (US), a certified NRA pistol instructor and a certified NRA Range Safety Officer.
My career has also included 15 years as an international security consultant; for ten years I served as the security adviser to the Inter-American Development Bank.
I additionally, served six years in the Marines, which included combat service in Vietnam.
I am available for operational assignments, lecturing opportunities and in providing security solutions anywhere in the world.