Viceroy Cartagena Obra Pía
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HISTORIC CENTER<br />
SMALL FORMAT HOTEL<br />
COMPARABLES<br />
hotel bastión<br />
hotel boutique tcherassi<br />
• If the Walled City is the best target for luxury<br />
development, why aren’t there more large-format<br />
luxury offerings?<br />
• Limited inventory – small footprints, stringent<br />
UNESCO rules<br />
• Sponsor has pieced together one of the largest<br />
remaining undeveloped footprints in the Walled<br />
City<br />
• <strong>Viceroy</strong> <strong>Cartagena</strong> property assemblage was<br />
selected to maximize height allowances and<br />
complex zoning<br />
Characteristics of competitive boutique hotel<br />
offerings:<br />
hotel boutique casablanca<br />
hotel san agustín<br />
hotel boutique lm<br />
• Generally offer 5-35 rooms<br />
• Beautiful and luxurious<br />
• No event space<br />
• No amenities<br />
• No meaningful food & beverage or nightlife<br />
• High ADR and high occupancy rates<br />
OBRA PÍA | 32
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