Building Boom in Latin America

Business opportunities and tourism growth in Latin America have inspired a hotel building boom. More than 100 major projects, many of them associated with major U.S. chains such as Clarion, Holiday Inns and Radisson, are expected to open in the next two years. About half the new properties are in Mexico and Venezuela. Here are the 13 most expensive projects, which have a combined value of $487 million.

Hotel/City Price (in Opening Country Rooms millions) date Conrad Resort & Casino/ 300 $75.0 1995 Punta del Este, Uruguay Continental Plaza/ 483 68.0 1994 Guadalajara, Mexico Inter-Continental/ 315 60.0 1995 Buenos Aires Merida Hyatt/ 300 46.0 1994 Merida, Mexico Rio Renaissance Hotel/ 233 40.0 Late 1995 Rio de Janeiro Melia Hotel/ 300 40.0 1994 Sao Paulo, Brazil Melia Hotel/ 301 40.0 1994 Salvador, Brazil Grand Bay Hotel/ 282 35.0 Late 1995 Manzanillo, Mexico Continental Plaza/ 300 24.0 Late 1995 Desarrollo Papagayo, Costa Rica Continental Plaza/ 160 20.8 1994 Veracruz, Mexico Sol Hotel/ 200 17.0 1994 Sao Paulo, Brazil Hotel Bel-Air/ 60 9.0 1994 El Tamarindo, Mexico Plaza Las Glorias/ 105 6.5 1994 San Carlos, Mexico

Sources: Hotels magazine and company reports