October 3, 2025
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Companies

Hilton to Open 206-Room Luxury Hotel in Medellin in 2019

U.S.-based global hotel magnate Hilton and local builder Constructora Colpatria jointly announced February 28 that they’ve signed a franchise deal to build and open a 25-story, 206-room “Hilton Medellin” luxury hotel on Avenida Las Palmas in second-quarter 2019. Hilton earlier opened an affiliated “Hampton Inn by Hilton Medellin” in 2016 and currently has a portfolio […]
Companies

Medellin-Based Insurance Giant Grupo Sura Sees 2016 Profits Jump 26% Year-on-Year

Medellin-based insurance and finance giant Grupo Sura announced February 27 that its full-year 2016 net income grew 26.3% year-on-year, to COP$1.7 trillion (US$556.3 million). Consolidated revenues also rose by 36.2%, to COP$19 trillion (US$6.3 billion), according to the company. “These variations are driven by the strong dynamics of insurance premiums, which grew 43.8%,
Companies

Grupo Argos 2016 Net Profit Jumps 75%; Chief Wins ‘Empresario of the Year’

Medellin-based industrial conglomerate Grupo Argos announced February 28 that its full-year 2016 net profit jumped 75% year-on-year, to COP$1.1 trillion (US$377 million), while company president Jorge Mario Velásquez just nabbed the prestigious “empresario of the year” award from Colombian business newspaper La Republica. Revenues in 2016 likewise grew by15% year-on-year,
Companies

Medellin-Based Multinational Supermarket Giant Grupo Exito Posts Profitable 2016

Thanks to a favorable turnaround in fourth quarter (4Q) 2016, Medellin-based multinational supermarket giant Grupo Exito posted a full-year 2016 net profit of COP$43.5 billion (US$14.9 million). The improvement came despite a 2016 Colombian interest-rate basis-point hike that cost the company COP$458 billion (US$156 million), higher Colombian income taxes and net losses in
Companies

Bancolombia 2016 Profits Jump 13.8% Year-on-Year

Medellin-based Bancolombia – Colombia’s biggest bank – on February 21 announced that its 2016 full-year profits rose 13.8% year-on-year, to COP$2.86 trillion (US$994 million). “The growth in 2016 of the Bancolombia group — in the midst of a soft-landing of the Colombian economy after an important external shock — showed positive behavior,” according to the […]