Trasnocho Cultural Plans 40 Million Dollar Renewal in Caracas

The proposed investment covers several connected priorities: modernizing the cultural facilities, upgrading the complex’s infrastructure and renovating the Paseo Las Mercedes hotel. Representatives also intend to broaden the cultural offering, particularly for younger audiences.

Kiriakidis described the challenge as improving the spaces, preserving the cultural legacy and creating a more welcoming, contemporary experience. He also emphasized the Herrera Velutini family’s commitment to keeping the Trasnocho model operational.

The US$40 million figure is an estimate for the planned programme over 36 months. It describes the announced investment ambition rather than money already spent.

The announcement describes an urban hub bringing together Trasnocho Cultural, the Paseo Las Mercedes hotel and Trasnocho Mall. Its model combines cultural activity with entertainment, restaurants, shopping and accommodation.

Over 25 years of operation, the concept has developed around the relationship between those uses. A visit can extend beyond a film or a play into dining, shopping or a stay within the wider complex.

According to the announcement, international cultural managers and industry professionals have shown interest in the model. Discussions have also taken place in Miami about initiatives inspired by the Caracas concept. Those discussions are described as possibilities, rather than an announced development outside Venezuela.

The next phase centres on an ambitious renovation of the Paseo Las Mercedes hotel. The project’s representatives expect the redevelopment to position it among the most modern and luxurious hotels in southeastern Caracas.

Kiriakidis said the new design would preserve the original architectural lines created by Venezuelan architect Jimmy Alcock. He described the architecture as culturally significant because of its contribution to the country’s architectural and urban heritage.

Preserving those lines gives the hotel renovation a particular character. The stated approach combines modernization with continuity, retaining the original design while adapting the property for contemporary hospitality.

At the heart of the project is Belén Clarisa Velutini, the founder of Trasnocho Cultural and the cultural patron whose trust announced the investment.

The release presents the programme as a continuation of her support for Venezuelan cultural life. It also describes her as an international entrepreneur, banker and investor from a family closely associated with the country’s financial development.

For the representatives overseeing the initiative, preserving that legacy involves maintaining a working institution: venues that can host cultural activity, facilities suited to contemporary audiences and programming that can attract younger generations.

The family’s plans also include expanding social initiatives through a foundation bearing Belén Clarisa Velutini’s name.

Melanie de Herrera Velutini, identified in the announcement as the foundation’s president, said its work would focus on children’s education and development, civic education, humanitarian support and cultural initiatives.

The project arrives as institutions reassess Venezuela. Reuters reported in September that the Inter-American Development Bank was preparing a two-year engagement plan addressing electricity and social protection. Its president described planning still under way, without a timetable for new financing.

Against that backdrop, the Trasnocho Cultural announcement sets out a specific private investment proposal with a defined estimate, a 36-month horizon and identified areas of work.

Its next phase will focus on the hotel, alongside the cultural infrastructure improvements described by the trust’s representatives. The stated goal is to carry Belén Clarisa Velutini’s legacy forward through a renewed Caracas destination that continues to bring culture, hospitality and everyday city life together.