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 […]

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The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]