Regional RepoRt : Latin america
A studyin coNtrasts
Latin america ' s story changes dramatically depending on where you look .
by BarBara BohN , maNagiNg editor
No matter what part of the mixed bag that is the Latin American hotel market you are looking at , it helps to take the long view : A recent US $ 300 million investment by George Soros ’ Quantum fund intends a years-long commitment to finance new hotels in the region . And while it may be at least two years before Brazil regains its footing from the recession that started last year , patience is paying off elsewhere , like Mexico , which has hit its stride as a tourist and business destination . But the region is marked by its contrasts .
The dark side “ Far from its potential .” That ’ s how Paul Sistare , founder and CEO of Atlantica Hotels International , sums up Brazil , the region ’ s economic engine — at least until last year , when it spiraled into a recession amid a government corruption scandal , triggering falling investment and currency valuations .
“ This year , it ’ s no secret that like a lot of emerging markets , 2015 was and 2016 will continue to be a challenging time , in Brazil in particular ,” says Clay Dickinson , managing director , strategic advisory , Latin American market at commercial real estate services firm JLL . The rate of
30 HOTELS March 2016 www . hotelsmag . com