Hotel Giants Turn to Brazil Investment
As well as social housing and middle class residential complexes, the boom in property investment in Brazil has now reached hotels. The world’s hotel giants have recently announced massive investment in Brazil over the next decade.
The tourist market in Brazil is gaining momentum and hotels are one of the biggest beneficiaries. As the Brazilian economy grows so do wages and purchasing power, and this greater wealth means more and more Brazilians are staying in hotels. Foreign interest in Brazil is also growing steadily and visitor numbers will only get higher in the run-up to the 2014 World Cup and 2016 Olympics.
The Jones Lang LaSalle Hotels report, Lodging Industry in Numbers – Brazil 2010, finds that despite the global economic downturn, hotels in Brazil increased their average room revenue by 7.7% last year. Hotels 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 leading to major investment opportunities in Brazil by international hotel brands.
Three major hotel chains – Hilton, Hyatt and Starwood – revealed big plans for Brazil at the 7th International Conference on Real Estate Investment and Tourism in Brazil held in Florianpolis earlier this month. Top of hotel investment is Hyatt who intend to build 50 hotels throughout Brazil over the next ten years. According to Julius Tendril, Director of Development in Brazil for Hyatt, “Brazil has great economic potential and is a favourite market for hotel chains”.
Along with Hyatt’s big expansion plans, the Starwood and Hilton chains are also making large investment in Brazil. For Viviene Boverie, Director of Acquisitions at Starwood, Brazil is “the apple of Starwood’s eye”, stating that the hotel chain has noticed a number of investment opportunities in the country. Hilton is expanding its presence in Brazil where the hotel giant plans to build all four brands of its hotels from mid-priced to luxury.
The executive Vice-President of Jones Lang LaSalle Hotels, Ricardo Mader reports that in 26 years in the industry, he has “never seen this level of serious interest in hotels in Brazil” among international investors. For Obelisk International, much the same applies to a wide range of investment sectors in Brazil such as real estate, agriculture and equities. 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 investing and to find out about Obelisk's latest projects, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
The tourist market in Brazil is gaining momentum and hotels are one of the biggest beneficiaries. As the Brazilian economy grows so do wages and purchasing power, and this greater wealth means more and more Brazilians are staying in hotels. Foreign interest in Brazil is also growing steadily and visitor numbers will only get higher in the run-up to the 2014 World Cup and 2016 Olympics.
The Jones Lang LaSalle Hotels report, Lodging Industry in Numbers – Brazil 2010, finds that despite the global economic downturn, hotels in Brazil increased their average room revenue by 7.7% last year. Hotels 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 leading to major investment opportunities in Brazil by international hotel brands.
Three major hotel chains – Hilton, Hyatt and Starwood – revealed big plans for Brazil at the 7th International Conference on Real Estate Investment and Tourism in Brazil held in Florianpolis earlier this month. Top of hotel investment is Hyatt who intend to build 50 hotels throughout Brazil over the next ten years. According to Julius Tendril, Director of Development in Brazil for Hyatt, “Brazil has great economic potential and is a favourite market for hotel chains”.
Along with Hyatt’s big expansion plans, the Starwood and Hilton chains are also making large investment in Brazil. For Viviene Boverie, Director of Acquisitions at Starwood, Brazil is “the apple of Starwood’s eye”, stating that the hotel chain has noticed a number of investment opportunities in the country. Hilton is expanding its presence in Brazil where the hotel giant plans to build all four brands of its hotels from mid-priced to luxury.
The executive Vice-President of Jones Lang LaSalle Hotels, Ricardo Mader reports that in 26 years in the industry, he has “never seen this level of serious interest in hotels in Brazil” among international investors. For Obelisk International, much the same applies to a wide range of investment sectors in Brazil such as real estate, agriculture and equities. 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 investing and to find out about Obelisk's latest projects, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
Labels: Brazil, Brazil property investment, Brazilian real estate, hotels, investment, investment in Brazil, property
posted by Alison Kane at 10:57 am
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