Posted 6/18/2012 - 11:00:15 AM
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RIO DE JANEIRO—Marriott International, Inc. and Overseas Private Investment Corporation (OPIC) have partnered to support environmentally sustainable hotel development in the Middle East, Latin American and the Caribbean.
The deal could generate millions of dollars in OPIC financing for Marriott International. OPIC will make long-term loans to the third-party owners of the hotels, while Marriott will manage the hotels under separate agreements. OPIC will design a streamlined loan approval process and loan terms that can be modified based on local conditions and regulations.
