Brazil Property News: Hotel queen calls for investment in Brazil's largest city.




4th April 2008 02:15


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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