Hotel queen calls for investment in Brazil’s largest city.
Brazil’s ‘elegant hotel queen’ has called for investment in Sao Paulo hotels.
In an interview with Reuters, Chieko Aoki, who built the country’s Blue Tree Hotel chain, said: "For the next five years there will be a shortage [of hotels] in Sao Paulo unless we build."
This news might be of interest to those considering buying property in Brazil.
"Brazil has had a big market for business hotels and it’s still developing," she added.
Ms Aoki – whose hotel empire now has 23 business, convention and resort hotels in Brazil and two in Argentina – announced that she wants to build another 24 new hotels throughout Brazil and South America by 2010.
Blue Tree – an English translation of her surname Aoki – was launched in 1992 after Ms Aoki saw an opportunity in the market for middle-market business hotels.
Sao Paulo is Brazil’s largest populated city and the fifth largest in the world.
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