Hotel company to invest in Brazil real estate
Brazil’s real estate will see a boost with the building of four new hotels in the country, meaning 12 cities will now have a Holiday Inn Express.
The InterContinental Hotels Group said it has signed agreements for the new Brazilian properties with all expected to be taking guests in two years time.
Alvaro Diago, area president at IHG Latin America, said the booming tourism industry in the country makes it ideal for investment, which is good news for people who already have property in Brazil.
"Brazil’s bustling business and tourism industries continue to provide excellent opportunities for IHG to further our mid-scale brand presence," he added.
Mr Diago stated that the deals are further proof of the company’s commitment to Brazil.
Ricardo Mader, executive vice president at Jones Lang LaSalle Hotels, recently stated that Brazil real estate investors are interested in hotels in the country as more people travel to the area.
He added that exchange rates have led to a boost in tourism.
