Latin America’s potential for big hotels and boutiques

In Latin America, international hotel chains see growth potential in a market dominated by independents, as recovering economies and rising tourism boost the promise of profits. Hilton Hotels & Resorts has doubled its portfolio in the region to 100 hotels over the past five years, and has more than 70 in the pipeline. “Our customers are asking us, ‘Where can you take us next?’” says Juan Corvinos, a managing director of development. To expand tourism, however, more flights are needed to increase competition and drive down airfares, says Patricia Boo, a director of hotel research firm STR. “It is not a cheap or quick destination” from Europe or the U.S., she says. Air connectivity emerged as a main topic at […]