The Chilean Hotel & Casino de Coquimbo, a complex historically operated by Enjoy, has been listed for sale, marking the latest in a series of asset disposals tied to the Chilean casino operator's ongoing financial restructuring.
The property, located in the Peñuelas district of the Coquimbo Region, is being marketed by real estate firm CBRE.
The sale comes as Chile's Gaming Superintendency (SCJ) runs a concurrent bidding process for a 15-year operating concession at the same venue, a tender also underway in Viña del Mar, Iquique, Pucón and Puerto Varas. The overlap between the property sale and the concession process gives the asset a particular strategic weight for potential buyers.
Enjoy has gone through two court-supervised restructuring processes, during which control of several of its real estate assets shifted to international bondholders, a pattern now reflected in the Coquimbo property.
Last week, Inversiones Enjoy SpA and Enjoy Consultora SpA closed the sale of the Enjoy Punta del Este hotel in Uruguay to Brazilian real estate group JHSF Península. Earlier, Inmobiliaria La Península, a vehicle controlled by Enjoy's creditors, also listed the Gran Hotel de Pucón, which Enjoy acquired in 2008.
The Coquimbo hotel and casino is a 43,000-square-meter oceanfront complex with a 15-story hotel tower, 111 rooms, event spaces with capacity for 2,000 people, a spa, gym, pools, a nightclub and restaurants.
Fernando Errázuriz, Director of Capital Markets at CBRE Chile, said: "Its technical suitability makes it a competitive advantage for securing the operating concession in Coquimbo for 15 years."
Enjoy recently agreed to sell its Enjoy Punta del Este resort to Brazilian group JHSF
