In June 1997 we purchased the Llao Llao Llao Hotel from Llao Llao Holding S.A., in a 50/50 partnership with the Sutton Group. It is located on the Llao Llao peninsula 25 km from the city of Bariloche (surrounded by mountains and lakes) and is one of the most important tourist hotels in the country. It was designed and built by the famous architect Bustillo in traditional alpine style and was inaugurated in 1938. Its total surface area is 15,000 m2, it has 205 rooms and the Hotel Resort also has an 18-hole golf course, tennis courts, gym, spa, games room and a swimming pool. The Hotel is a member of The leading Hotels of the World Ltd, a prestigious luxury hotel organization representing 430 of the world’s finest hotels, resorts and spas. It is currently managed by Compañía de Servicios Hoteleros S.A., which also operates the Alvear Palace Hotel.