After years of stagnation Brazil´s hotel sector has been well and truly sparked by the opportunities associated with the world´s two biggest sporting events, with initial preparations for the 2014 World Cup and Rio 2016 showing up the dearth of supply right across the country.
In recent weeks a host of projects and promises have been announced, including:- Marriott International, which currently has only four hotels in Brazil, revealing plans to develop 50 Fairfield by Marriott developments throughout the country in a partnership with Rio de Janeiro-based real estate developer PDG Realty SA Empreendimentos & Participacoes.
- France´s Accor committing to build four hotels in Rio de Janeiro´s Barra region, where the majority of 2016 Olympics facilities will be located.
- Brazilian group Performance Real Estate Ventures announcing investment of around R$250 million in nine new hotels in Rio.
- US hotel administrator Host Hotels buying the five star JW Marriot hotel on Copacabana Beach, which will continue to be operated by Marriot.
- The Brazilian Hotel Industry Association of Rio de Janeiro predicting a wave of retrofits across the city in preparation for the 2016 Games.