Dubai’s Jumeirah Group will open its first hotels in Brazil because demand is increasing due to rising incomes in Latin America’s biggest economy, the 2014 World Cup, and 2016 Olympic Games. Senior Vice President of development for the Americas at Dubai Group, James Erlacher, said “The time is right for us to be entering the Brazilian market.” Jumeirah plans to operate hotels first in Brazil’s biggest cities – Sao Paolo and Rio de Janeiro, and is also considering resorts mainly in the Northeastern part of the country.
The Four Seasons expects to finalize agreements with developers of three projects within eighteen months, including hotels in Sao Paolo, Rio, and a beach resort. The Olympics will draw tens of thousands of visitors, requiring a doubling of current hotel space to 50,000 rooms. About $51.1 billion will be injected into Brazil’s economy through 2027, and 120,000 jobs a year will be added through 2016.
