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Despite stalled growth in China, Brazil and Russia, a wave of newly middle-class travelers from the BRICs and beyond will start visiting international destinations in the coming decades — dwarfing the numbers we’ve seen thus far.
Hotel Urbano founder Joao Ricardo Mendes tells Skift the new funding will be used to increase brand awareness, expand in mobile, and to establish direct technology links to 100% of hotels in Brazil.
The Brazilian online travel agency Hotel Urbano has gotten a 120 million Reais ($50 million) in funding from the powerhouse hedge fund investor Tiger Global Management and previous backer Insight Venture Partners.
With both the World Cup and the Olympics right around the corner, the Brazilian travel industry is exploding as the country frantically tries to increase its stock of accommodations for the expected tourist boom.