Chile’s Algeciras to build corporate hotels in Lima, Trujillo & Arequipa

The Chilean group Algeciras announced Tuesday plans to build corporate hotels in Lima, Trujillo and Arequipa in the medium term, in order to expand its new hotel chain Foresta Hotel & Suites in the country.

The president of Algeciras, Rafael Villanueva, said that in the next 18 months, the company will officially announce its expansion plan, which includes cities such as Arequipa and Trujillo, both important business markets in Peru.

"It is true that we are interested in expanding our operations in provinces; however, we think our next projects will be initially implemented in Lima, because demand is still higher than supply in this city," he told Andina news agency.

Every project will require an investment of seven million dollars, which will be used for the construction of modern four-star hotels.