Credit Facility for Royal Holiday Hotel Renovations

Villanueva Ortiz Abogados, S.C. (“VOA”), advised and represented Banco Nacional de Comercio Exterior, S.N.C., Institución de Banca de Desarrollo, as lender, in connection with a $60,000,000.00 USD secured credit facility granted to GCM Corporativo, S.A. de C.V., an entity controlled by Royal Holiday Vacation Club, as borrower. The proceeds of the credit facility were used for the reconditioning of various hotels and vacation clubs of the group, and to acquire new and modern inventory for some of Royal Holiday’s hotels in different States of Mexico, such as the Park Royal Hotel of Cancún and Park Royal Hotel of Ixtapa.