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Article: Beach blanket Brazil: global hotel chains see tourism on the rise in Brazil and are spending big bucks now.
- Article from:
- Revista Latin Trade
- Article date:
- March 1, 2005
- Author:
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Why pick Brazil over the Caribbean for a resort vacation? Some resort developers feel they have the answers, judging by the money they're spending. That's especially true in and around Bahia state, in the northeast, where investors have recently pumped almost half a billion U.S. dollars into new projects.
Previ, a pension fund for employees at state-owned Banco do Brasil, the country's largest bank, got involved early in the sector. In 2000, Previ and partner Odebrecht, a Brazilian construction giant, spent US$200 million to build five resort hotels, six smaller inns, convention and sports centers, restaurants, stores, swimming pools, tennis courts and an 18-hole ...