Company name
Twin Hotels N.V.
Project number
14074-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Suriname
Sector
Manufacturing
Status
Inactive
Disclosed date
06/20/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/18/2023
Approval date
N/A
Signed date
N/A
Sponsoring entity
Cirkel Group
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
Twin Hotels N.V. is the franchisee of the Courtyard by Marriott Paramaribo. The 138-room hotel was opened in June 2009 and is located along the Suriname River. The hotel has a business center and features meeting spaces, as well as a restaurant, fitness center, and an outdoor pool. As part of Marriott’s regular refurbishment and upkeep program, intended to keep the property competitive and in line with brand standards, the hotel will renovate its 138 available rooms (the “Project”) in 2022 and 2023. The Company has estimated a total project cost of US$6,700,000 to implement and maintain the Marriott’s brand standards. IDB Invest is proposing a senior secured loan of up to US$5 million with a 10-year tenor to support the capex investment.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
lisette@cirkelgroup.com
PHONE NUMBER
+597 425254
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
COURTYARD PARAMARIBO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
225.3 Kb
COURTYARD PARAMARIBO - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
102.4 Kb