USA / COLOMBIA – ECNETNews reports that financing has been approved for On Vacation, a prominent player in Colombia’s hotel and tourism sector, with a committed line of up to $12 million aimed at driving sustainable economic growth in tourism-rich regions. Additionally, the company has access to uncommitted funds of up to $20 million to support its expansion and working capital needs through institutional investors.
This financial backing will enable On Vacation to roll out critical sustainability projects, including the installation of renewable energy systems at its hotels in areas such as the Amazon region, La Guajira, San Andrés, and Tayrona.
The initiative aligns with ongoing efforts to enhance sustainability practices in the Amazon and other vulnerable regions, while also promoting formal employment opportunities and including marginalized communities, such as indigenous and Afro-descendant groups.
Furthermore, On Vacation plans to strengthen its local supply chain by integrating micro, small, and medium-sized enterprises (MSMEs) into its operations, thereby increasing its economic influence in the communities it serves. The company is committed to involving indigenous populations in its workforce, offering training programs that foster professional development and local employment chances.
This funding will aid On Vacation in reaching its environmental and social sustainability objectives, focusing on the transition to renewable energy and improved energy efficiency across its facilities. The company will also enhance its room inventory to provide responsible tourism options that significantly benefit local economies.
Additionally, On Vacation will bolster its Environmental, Social, and Governance (ESG) policies with a targeted action plan and will receive expert guidance in formulating a corporate decarbonization strategy along with a plan to reduce food waste.
This financing underscores a dedication to fostering the tourism sector in Colombia, enhancing responsible investment and sustainable growth in firms that prioritize social and environmental wellness. The initiative aims to position tourism as a key economic driver in remote regions, generating inclusive employment opportunities and promoting environmentally responsible practices.
Through this program, On Vacation contributes to the UN Sustainable Development Goals (SDGs), particularly focusing on SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), and SDG 12 (Responsible Consumption and Production).
