The owners of the well-known Alvear Palace Hotel in Buenos Aires are investing $60 million in the addition of two new properties, Alvear Plaza San Martin and Alvear Puerto Madero. These projects are anticipated to open in Buenos Aires in 2012.
Development has begun on Alvear Plaza San Martin, a $20 million project set to be located on Suipacha Street, between Santa Fe and Marcelo T. de Alvear. The setting hopes to be a magnet for business-travelers drawn by the hotel’s easy proximity to the commercial center of the city. The 150-room hotel will include meeting and events rooms, and a fitness center.
The Alvear Puerto Madero, a $40 million development, is expected to commence soon on a site located on Aimé Painé Street. The hotel will also include 150 rooms and suites, as well as 40 luxurious residences which offer owners full advantage of all hotel services.