Hotel investment coming to Brazil
In addition to residential housing complexes, beachfront resorts and the huge social housing project soon to be undertaken, the booming investment market in Brazil has spread to some of the world’s biggest hotel chains who recently announced extensive investment plans for Brazil over the next decade.
Hotels are naturally one of the main beneficiaries of the growing Brazilian tourism industry – as the country’s economy grows, so does the wealth and disposable income of individuals and this means more and more Brazilians are visiting hotels. Foreign investment interest in Brazil is also increasing, and the Government and Tourist Boards are confident that visitor numbers will only get higher in the run-up to the 2014 World Cup and 2016 Olympics.
Brazil seems to have escaped some of the impact of the recent global economic downturn. A recent report by the Jones Lang LaSalle Hotels Group (‘Lodging Industry in Numbers – Brazil 2010’), shows that Brazilian hotels increased their average room revenue by 7.7% last year and upped their room rates by 10.4% in 2009 which, according to Jones Lang LaSalle, is ‘one of the highest growth rates posted by any large country worldwide last year’. The boom in tourism is now leading to major investment opportunities for international hotel brands.
Three major hotel chains – Hilton, Hyatt and Starwood – have revealed big plans for Brazil. Hilton intend to have all of their brands represented in the country and Hyatt reportedly intend to build 50 hotels throughout Brazil over the next ten years, saying that ‘Brazil has great economic potential and is a favourite market for hotel chains’. The Starwood chain is also planning to invest in Brazil, having noticed a large number of investment opportunities in the country.
The Executive Vice-President of Jones Lang LaSalle Hotels has reported that he has ‘never seen this level of serious interest in hotels in Brazil’ and, with steady economic growth forecast for the next few years, all the signs point to continued strong foreign investment in Brazil.
For more information on lifestyle and investment properties in Brazil, please contact Emerging Real Estate for more information - http://www.emergingrealestate.com/properties-in-brazil
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