São Paulo – Brazil’s hospitality sector is forecasting strong growth in the coming years with BRL 8.4 billion (USD 1.5 billion) in investments expected to take place through 2028, as per the 2024 Brazilian Hospitality Outlook report from the Ministry of Tourism (MTur). The amount is up 26.9% from last year’s estimates and means an additional 21,893 hotel rooms available in the country.
MTur said in a press release that the numbers cement Brazil’s status as an attractive destination for domestic and international investors and tourists. It also said the growth expected in the sector will even further enhance hotel infrastructure in the country, with new developments catering to growing demand and offering high-level experiences to guests.
Occupancy rates
A survey from the Brazilian Hotel Operators Forum (InFOHB) shows that key indicators increased significantly year-to-date through August. Covering 537 hotels and 85,589 rooms managed by InFOHB-affiliated chains, the survey shows a 1.2% increment in occupancy year-over-year, with average rates going up 10.6%.
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Translated by Gabriel Pomerancblum
