LIMA, PERU Thunderbird Resorts Inc. is selling two properties in Lima to an undisclosed buyer.
The 151-key Thunderbird Hotel Principal and the 45-key Thunderbird Bellavista Hotel, both located in Lima, have been sold for a combined US$18 million, or about US$187,000 per key. The transaction is expected to close this quarter, with net proceeds to be used to pay down debt.
Panama-based Thunderbird will continue to manage the hotels for a short transition period.
The company continues to own the 235-key Thunderbird Hotel El Pueblo and the 66-key Thunderbird Fiesta Hotel and Casino, both also in Lima. In addition, Thunderbird continues to manage the 64-key Thunderbird Hotel Pardo and the 99-key Thunderbird Hotel Carrera under a fee-based management contract.