Sectur Offers New Credit Program for Hotel Improvements

The object of the program is to construct 700 new hotel rooms in Mazatlán.

mazmessenger.com

At a press conference on Wednesday, the Sinaloa government, the financial group Banorte-Ixe and the Sinaloa Secretary of Tourism (Sectur) presented a credit program specifically for construction of new hotel rooms and remodeling of existing hotels in Mazatlán.

The object of the financial initiative, titled “Programa de Apoyo Financiero para Incrementar la Oferta Turística de Mazatlán y de Sinaloa,” is to construct 700 new hotel rooms, ten percent more than currently available, which will house 400,000 additional tourists annually and generate an additional 1,200 million pesos for the hospitality industry.

The 200 million peso project presented to businessmen and heads of Mazatlán´s hotel associations establishes that initially it will be offered to the 50 businesses associated with the two local hotel associations, motel owners and tourism companies, and others in Sinaloa.

The loans will start at 500,000 pesos to a maximum of 9,500,000 pesos at an 11 percent annual interest rate to be paid off in three years and must be applied for between September and December of this year.

It is expected that 50 hotels and tourism companies in Mazatlán will benefit from the financial loans in the first stage of the program.

 (from Sectur press release)