Hilton Worldwide signed a management agreement this week for a new US$44-million Hilton Hotel & Residences to be built in the Buenos Aires Province town of Pilar. The new hotel will be located in the heart of the Pilar Golf Club, a 432-acre master-planned community and 27-hole golf club on the outskirts of Buenos Aires.
The new Hilton Pilar Hotel & Residences will feature 170 guest rooms, a convention center with capacity for 1,200, a lobby with signature restaurants and bars, a 5,300 square-foot spa, outdoor pool and fitness center. According to PuntoBiz, the multi-use complex will be spread out over an 8.6 acre parcel in the heart of the Pilar Golf Club adjacent to the Clubhouse.
Of the hotel’s 170 rooms, 75% will be marketed and sold as condo-hotels (Hilton Residences) giving individual unit owners access to the services and amenities of the hotel. As such, the Pilar hotel joins a very select group of global properties where Hilton offers the residence concept like Surfers Paradise in Queensland and the The Walk on Jumeirah Beach in Dubai.
Income-producing condo-hotel units in unique destinations are now one of the more attractive peso-denominated real estate investment opportunities for Argentines, especially now that fewer locals will be vacationing abroad in the foreseeable future given currency restrictions that have been in place for exactly one year and two days. (Full Story in Spanish)
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