Brazil’s economic boom has fueled a building bonanza, which could eventually become an issue if there’s an oversupply of rooms when the country’s global hosting responsibilities come to an end.
Economic development in Brazil is booming, accelerated by a growing export economy and the country’s selection as host to the FIFA World Cup in 2014 and the Summer Olympics in 2016. With 259 hotels and 43,827 rooms coming online, Brazil has the largest pipeline in Latin America and the fourth largest pipeline in the world. It’s 45 percent of the total Latin America pipeline.
New openings in Brazil will rise to 46 hotels and 8,182 rooms in 2013, and in 2014 they will catapult to 87 hotels and 13,625 rooms. In that year, Brazil will have 54 percent of all forecasted new hotel openings in Latin America.