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Soros to invest in Fen Hotels’ expansion

The Wall Street Journal reports that billionaire George Soros, founder of Soros Fund Management, will spend up to US$300 million on Fen Hotels’ Latin American expansion.

The investment will help finance up to 5,000 new hotel rooms in Peru, Chile, Ecuador, Argentina and other South American countries within the next three years, according to Patricio Fuks of Fen Hotels. Fen Hotels currently has 35 hotels across Latin America.

In addition to Latin American expansion, Fen Hotels is also looking to establish a presence in the U.S. Curbed Los Angeles reports that Esplendor Trinity and Dazzler Clark will open in 2016 in downtown Los Angeles. Fen Hotel is also looking to develop its Dazzler brand in Brooklyn and Miami.

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