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Brazil’s pipeline of new hotel projects is now the world’s fourth-largest, research company Lodging Econometrics has concluded.
Brazil’s booming economy has led to a rush of building, particularly franchise brand properties, ahead of the 2014 World Cup and 2016 Olympic Games. Brazil now has 177 on-going projects totaling more than 29,000 rooms, which puts it behind the US, China and India.
The growth in Brazil meant that Latin America’s total construction pipeline increased for a fifth consecutive quarter at the start of 2011 to 517 projects totaling almost 84,000 rooms. Project numbers are up 14% year on year and rooms 10%.
A ripple effect has been created with other South American countries benefiting. Lodging Econometrics highlights Colombia and Peru as other key centres for development, with the total pipeline for other South American countries growing 20% to 109 projects and by 14% to 9,600 rooms. Central America, chiefly Panama, has also grown considerably.
Among the projects are eight Accor-branded properties in Brazil begun in the last quarter, including two Novotel, three Ibis and three Formule 1 hotels. Starwood has just opened its first Westin Hotel in South America in Lima, while Marriott plans a 278-room property in Cartagena, Colombia. The hotel, scheduled to open in 2014, will be its third in the country.