AccorHotels, a leader in travel, lifestyle and digital innovations, announces the transformation of Sofitel Copacabana into the first hotel with the Fairmont flag in South America. The renovation begins this month and is expected to finish in 14 months.
Elandis, an international hospitality and real estate ownership, development and property management subsidiary of the Libra Group, announced today that it has completed the structure of Hyatt Place Macaé Hotel in Brazil. The 141-guestroom hotel is a joint project development with an affiliate of Hyatt, and will be located 110 miles northeast of Rio de Janeiro. The oceanfront hotel is slated to open in February 2018.
Hilton (NYSE: HLT) today announced the opening of Hilton Rio de Janeiro Copacabana, marking a significant milestone as the company's 100th hotel in Latin America. The 545-room beachfront Hilton Rio de Janeiro Copacabana is one of the largest hotels in the famous Copacabana neighborhood, one of Brazil's most visited destinations, and represents Hilton's second property in the city.
Hilton (NYSE: HLT) today announced the opening of Hilton Rio de Janeiro Copacabana, marking a significant milestone as the company's 100th hotel in Latin America. The 545-room beachfront Hilton Rio de Janeiro Copacabana is one of the largest hotels in the famous Copacabana neighborhood, one of Brazil's most visited destinations, and represents Hilton's second property in the city.
South American visitors accounted for the largest share of foreign tourists who visited Brazil in 2016. This conclusion was presented by the Statistical Yearbook of the Ministry of Tourism. According to the survey, 6.6 million visitors came to Brazil from abroad in 2016, which is a historical record, representing a growth of 4.3% compared to 2015. Out of them, 3.7 million flew from the neighbouring countries. The spotlight goes to Argentina, the source market for 2.3 million visitors, a growth of 10% compared to 2015.
In 2016, Brazil hosted the Olympic and Paralympic games, which was the main reason for the record data. As to the source markets of visitors, the South American continent accounted for 56.7% of them, followed by Europe (24.4% of visitors), and North America (11.2% of visitors).
CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott) steps up its global expansion as it breaks into South America with franchise agreements for two serviced residences in São Paulo, Brazil. Vitacon, a leading real estate company in São Paulo, will franchise and operate the 92-unit Citadines VN Jardins São Paulo and 122-unit Citadines VN Faria Lima São Paulo. The two serviced residences are scheduled to open in the last quarter of this year and 2020 respectively. Ascott and Vitacon have also signed an agreement with an intent to establish a portfolio of at least 5,000 Citadinesbranded units in São Paulo.
Despite an increase in demand, hotels in Rio de Janeiro reported lower occupancy levels during this year's Carnival of Brazil, according to data from STR.
Blackstone today announced that funds managed by its real estate business have agreed to acquire the Windsor Atlantica Hotel on Copacabana Beach in Rio de Janeiro, Brazil. As part of the transaction, Blackstone has signed a management agreement with Hilton for this asset and following a period of transition plans to convert the hotel to the "Hilton Rio de Janeiro Copacabana".
The Brazilian Ministry of Tourism believes that the positive numbers of carnival tourism sector emphasize the importance of the holiday for the economy of all regions.
The Carnival revelry worked as a dynamo for the economy, generated jobs and attracted visitors in all regions of Brazil.
In Salvador, for instance, traditionally one of the key destinations for carnival tourism, the hotel occupancy rate reached 95% throughout the holiday season, hence generating 200 thousand temporary jobs. Bahia’s Secretariat of Tourism (Setur) estimates that 600 thousand tourists have visited the Bahian capital city, an increase of 9% in comparison with the previous year of 2016. Of these, 10% have come from abroad. 2 million visitors were registered throughout the state, a number responsible for pumping R$ 1,5 billion into the Bahian economy.
AccorHotels announces it has signed an agreement with Brazil Hospitality Group (BHG) and its shareholders, funds managed by GP Investments and GTIS Partners, in order to take over the management of 26 hotels (c. 4,400 rooms) currently owned or managed by BHG, the third-largest hotel company in Brazil.
The Central Bank has released the percentages for expenditure and income in foreign exchange from tourism in Brazil in 2016. The data revealed that from January to December, foreign tourists spent US $6.024 billion in the country, representing a 3.08% increase in revenue in 2016 compared to 2015. The increase was largely caused by the Olympic Games held in Brazil, according to the authorities. In absolute terms, the revenue generated by Rio 2016 was US$166 million.
Hyatt Place São José do Rio Preto opens today, marking the first Hyatt Place hotel to open in Brazil. Practical design aligned with comfort and technology are the leading characteristics of the new Hyatt Place hotel illustrating the success of Hyatt's select service brand as it continues to create value for guests and owners worldwide. Hyatt, in joint venture with Elandis, intends to open multiple Hyatt Place hotels in Brazil.
Elandis, an international real estate group that develops, owns, and manages real estate assets throughout the Americas and in Europe, announces its on-schedule and on-budget completion of a newly built Hyatt Place hotel in São José do Rio Preto, Brazil, which was developed by a joint venture entity formed by Elandis and an affiliate of Hyatt in 2014. This is the first of multiple Hyatt Place hotels expected to be developed as part of the master development plan between Hyatt and Elandis.
Rio de Janeiro's hotel industry saw a substantially larger impact as host of the 2016 Summer Olympics than London in 2012 and Beijing in 2008, according to data from STR.During the month of August, Rio de Janeiro hotels posted a 199.2% surge in average daily rate (ADR) to BRL1,250.26. That rate spike, coupled with a 26.6% increase in occupancy to 76.0%, led to a 278.6% increase in revenue per available room (RevPAR) to BRL949.84.Beijing experienced a 184.2% RevPAR increase in 2008, which was mainly due to a 250.1% boost in ADR as occupancy actually declined 18.8%. In London, RevPAR increased 44.4% due solely to an increase in ADR, as the market's occupancy was nearly flat during the 2012 Olympics.Prior to the 2016 games, Rio de Janeiro hotels struggled to maintain occupancy levels, affected by considerable supply growth, fear over the Zika virus and ongoing political issues. The market's 47.0% absolute occupancy level during the second quarter of 2016 was the lowest Q2 occupancy level for the market since 2002.The year-over-year performance increases for Rio de Janeiro during the Olympics also came off of a low comparison base in 2015."The real challenge for Rio lies ahead now that there are 23% more rooms in the market than a year ago," said Patricia Boo, STR's area director for Central and South America "This is a much different and less stable market than London and Beijing. While the Olympics performance lift for Rio was higher, the post- Olympics challenges will also be greater. The year after the 2012 Olympics, London experienced a 6% increase in demand, likely in part due to the attention the city received during the Olympics. Rio will need that and more to counteract the spike in supply."
A new report from JLL indicates that Brazil is still a long-term investment option, attracting a significant amount of foreign investors in spite of deteriorating economic conditions and weak hotel performance. The negative impact on performance is the result of deteriorating national economic conditions, the report claims, with the GDP shrinking by 4 percent. The growth in hotel supply hasn't helped, leading to low occupancy rates in formerly strong markets.
Brazil made history today when the State Secretary of Environment for Amazonas (SEMA), on behalf of the State Government of Amazonas, and the Amazonas Sustainable Foundation (FAS), delivered its first-ever certificate of carbon emissions reduction to the US-headquartered hospitality company Marriott International. The presentation will take place during the Climate Summit of the Americas in Guadalajara, Mexico. This is the first time in Brazil that a certificate has been issued by a partnership between state government, a private institution and a non-governmental organization. The document is not transferable.
The Yoo2 Rio de Janeiro by Intercity will open in July 2016. This is the first hotel in a new brand for YOO Hotels and Resorts. Yoo2 Hotels bring original design and local soul to each destination, creating a sociable environment for both hotel guests and the local community. The Yoo2 Rio de Janeiro is a partnership between YOO Hotels and Resorts and Intercity Hotels. YOO brings over 15 years of international experience in design, branding and marketing, which is complimented by the local expertise of Intercity Hotels within the Brazil market. Intercity Hotels will manage all properties in Brazil and there are plans to grow the brand throughout Brazil and globally.
Rio de Janeiro, Brazil, has gained 38 hotels and more than 9,500 hotel rooms since being named host of the 2016 Summer Olympics, according to STR.Preliminary figures for July 2016 showed 28,314 rooms in 171 hotels in Rio de Janeiro. When Rio was awarded the games in October 2009, the market comprised 18,760 rooms in 133 properties.In addition to preparations for the Summer Olympics, Rio's hotel supply has grown substantially as a result of the 2014 FIFA World Cup. From June 2013 to June 2014, the year leading up to the World Cup, Rio's hotel room supply increased 5.9% to 21,383 rooms. Since that point, Rio's supply growth has ramped up 32.4%.In the first half of 2016, Rio hotels reported a 9.7% decline in occupancy compared with the first half of 2015. In addition, the market's 47.0% absolute occupancy level during the second quarter of 2016 was the lowest Q2 occupancy level in the market since 2002.Although fear over the Zika virus and ongoing political issues in Brazil have likely affected the market, STR analysts believe that substantial supply growth has significantly altered the city's hotel landscape. Brazilian officials have estimated that 350,000 to 500,000 tourists will visit Rio for the Olympics. STR analysts expect Rio hotels to see a significant boost in performance during the next several weeks.STR will report on Rio's hotel performance during the Olympics as data becomes available.
With hundreds of thousands of visitors showing up in Rio de Janeiro for the 2016 Olympics, which begin Friday, hotel owners have been dusting off something they haven’t used for some time: their “No Vacancy” signs.
Marriott International announced the opening of the two addresses, further strenghtening the group's presence in Latin America on the eve of the Summer Olympics hosted by the Brazilian city. Marriott International strengthens its presence in the host city of the upcoming Summer Olympics, with two additional openings under the AC Hotels brand. Overlooking the beach in the eponymous neighborhood, the 378-room AC Hotel Rio de Janeiro Barra da Tijuca also offers an outdoor pool. Similarly boasting a panoramic pool as well as a fitness center but operating in the city's northeast, the AC Hotel Rio de Janeiro Porto Maravilha offers a 225-room capacity.