HA-T1143 : Support to the Reconstruction of Hotels in Port-au-Prince

The objective of this Operational Input is to contribute US$300,000 to the restoration of the hospitality industry in Port-au-Prince by providing assistance to: (i) finance studies necessary for the analysis and preparation of loans to three hotels (ii) provide training for hotel workers and to provide insight into methods of improved corporate governance for the management of the hotels in order to modernize and promote higher standards of business practice. The provision of assistance to these three hotels is required due to the large transaction costs related to these financings, in comparison to the relatively small size of the transactions. These hotels when rebuilt are expected to have a significant positive impact on the availability of high quality hotel rooms in Port-au-Prince, given that 60% of the hotel rooms in Port-au-Prince were destroyed during the January 12, 2010 earthquake