Quito Hotel will be auctioned until November 11

The President of the Board of the Ecuadorian Institute of Social Security (IESS for its Spanish acronym) Victor Hugo Villacrés confirmed yesterday, August 6, the decision to sell by public auction the Quito Hotel, whose minimum reference price is $ 35 million.

Villacrés affirmed that it is not only a process of divestiture but mainly to promote a project for mixed use: hotel and real estate.

According to the established schedule, the registration of offers will be until August 30, 2014 through the website www.inversion.hotelquito.com.ec. The coordination of visits with hotel authorities and Bank of IESS (Biess) will be carried out until September 1; the submission of tenders until October 1, and the adjudication process on November 11, when the winner of the offer will be known.