FERRERE represented Agri Terra on the execution of various agreements with the Marriott International group, for operation and management of Asunción’s first “five-star plus” luxury hotel

The project, to be developed by Agri Terra, will bear the “JW Marriott” global brand. It involves construction of a mixed-use building in the heart of Asunción’s new financial and business district. In addition to housing Paraguay’s first (and South America´s seventh) JW Marriott hotel, the building will also include commercial, corporate and residential units, and represents a major investment in Paraguay´s real estate and hospitality sectors.

The building will be designed by DPA Designs and is expected to become an icon of Asunción urban development. Construction will begin in 2024 and will employ more than 3,000 workers.

FERRERE worked with Agri Terra on all stages of the process with Marriott, during which it reviewed and negotiated the transaction documents, including several complex management, licensing, royalty and service agreements, and assisted on the project´s corporate and financial structuring.

In turn, the FERRERE team performed a full review of the legal and factual conditions of the properties on which the project will be built. In addition to the transaction’s predominating corporate and real estate aspects, the agreements with Marriott covered a wide range of specific legal matters, including hospitality, intellectual property, employment, administrative and regulatory issues.

FERRERE’S work was led by the partner Carlos Vasconsellos and the attorneys Guillermo Jover and Fernanda Benítez.