G6 Hospitality, parent company of the Motel 6 and Studio 6 brands in the U.S. and Canada, is expanding into Central America. The group signed a new area development agreement with InterAmerican Development Group to bring its new brands, Hotel 6 and Estudio 6, to Belize, Costa Rica, Panama and other locations.
InterAmerican Development Group is a new entity formed by Grupo Portalis, Leisure Partners, and Calvet & Asociados with the goal of developing and operating a budget hotel platform in all of Central America under the Hotel 6 and Estudio 6 brands. This development agreement is part of G6 Hospitality's plan to open in several countries in the region, including Belize, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama. With this new partnership, the company plans to expand its portfolio opening up to 10 Hotel 6/Estudio 6 properties within the next five years.
"In 2014, we saw an opportunity to expand our footprint to Latin America as a response to increased demand in the region's economy travel segment," Jim Amorosia, president and CEO at G6 Hospitality, said in a statement. "We initiated our strategic global expansion plan in Mexico and will continue in growing our portfolio to other areas in the region."
"We are excited to play a part in G6 Hospitality's expansion to Central America, and believe that their proven hospitality formula and our local market knowledge will provide for a very successfully partnership," Antonio Maldonado, director of the InterAmerican Development Group, added.