Key players from the Hotel & Tourism Business World will be together once again under the premise “Rethinking, Recreating, and Reinventing the Hospitality Industry.” It will be a great chance to exchange information related to investment opportunities in the region.
Brazil’s proximity to the United States, along with its growing middle class, large domestic market and favorable exchange rate, make it a prime target for development by American hotel companies. James Chappell, managing director of STR Global, said Brazil and South America are very attractive to American brands because they are close to home, are located in similar time zones and almost universally accept the U.S. dollar.
Hotels are among the leading asset class for investment in Brazil, according to Jones Lang LaSalle Hotels’ research report Investment case for Brazil, released today. Brazil’s economy, while exposed to the global financial crisis, is forecast to suffer less and for a shorter duration than most of the world’s mature economies. The country is attracting investor attention generated by its long-term growth potential.
Furthering its reach within Latin America’s most populous country, IHG (InterContinental Hotels Group), (LON:IHG) (NYSE:IHG) (ADRs), the world's largest hotel group by number of rooms, announced today that it has signed agreements to develop four new Holiday Inn Express properties, as well as for the conversion of an existing independent full-service Holiday Inn, increasing IHG’s presence in Brazil to 12 cities.
Marriott International (NYSE:MAR) has been selected as the recipient of the prestigious and highly competitive "2009 Tourism for Tomorrow Award for Sustainability" in the Global Tourism Business category by the World Travel and Tourism Council (WTTC). The global award recognizes the company's achievements in demonstrating sustainable tourism practices, including the protection of natural and cultural heritage, social and economic benefits to local people and environmentally-friendly operations.
Transforming Economies and Removing Barriers Towards Global Integration through Travel & Tourism are two of the main themes of the 9th Global Travel and Tourism Summit, which is being organised under the patronage of His Excellency Luiz Inácio Lula da Silva, President of Brazil, by the World Travel & Tourism Council (WTTC). The two-day event will take place in Florianópolis, the capital of the Brazilian state of Santa Catarina, from 15-16 May.