Accor Targets Brazil
Monday October 8th, 2012 - 12:36AM H
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RIO DE JANIERO, BRAZIL—Accor plans to open 250 hotels in Brazil in the next four years.
The Paris-based hotel company's financial partners have committed $1.5 billion to the effort. Twenty-two hotels have opened this year across Accor's portfolio of mostly mid-price brands, in this sprawling country, which is known for having one of the world's most robust economies at the moment. Meanwhile, 90 contracts have been signed for additional hotels.
Tags: • Hospitality • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.