Rio de Janeiro hotels to get $160 million funding boost
Those with Brazilian property in Rio de Janeiro will be pleased to hear that the hotel industry could receive as much as $160 million (£95.2 million) for refurbishments.
The financial injection is aimed at helping the city’s bid for the 2016 Olympics and its ability to welcome international visitors to top-quality accommodation and facilities.
Carlos Arthur Nuzman, president of the Rio 2016 Committee, said the funding, which will come from the Ministry of Tourism and the National Bank of Economic and Social Development, will give a massive boost to everyone.
"With this new credit line, the quality of hotels in Rio de Janeiro will be even better. The Rio 2016 bid met all International Olympic Committee requirements in the area of accommodation and new initiatives in the area only reinforce the sector’s commitment to the project," he stated.
In other news, Carlos Roberto Osorio, secretary general of the Rio 2016 Committee, recently said that those with property in Brazil will experience heat and passion from Brazilian supporters, should Rio be selected for the games.
