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Colombia Reports Hotel Industry Growth with 6,964 New Hotel

Rooms to Open in 2014
With around US$75 Million Invested per project by Major Hotel Chains, New Property Openings throughout Colombia Highlight Booming Business and Leisure Travel Industry

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MIAMI and TORONTO - July 1, 2014 (www.investorideas.com newswire) As the number of travelers to Colombiacontinues to rise, with 3,747,945 foreign visitors in 2013 according to Colombia's Ministry of Commerce, Industry and Tourism (MICT), the country's hotel industry is experiencing significant growth with the presence of major hotel chains increasing and the investment of up to US$75 million in new properties, Proexport Colombia announced today. Current chains with existing or planned developments in the country include Radisson Hotels, Sonesta Collection, Melia Hotels International, Iberostar Hotels & Resorts, Ibis, Hyatt Hotels, TRYP Hotels, W Hotels and more.

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"Today, visitors are increasingly discovering the unique experiences that Colombia has to offer in terms of both business and leisure travel," said Maria Claudia Lacouture, President of Proexport, the Colombian agency charged with promoting trade, tourism and investment. "From Bogota to Cartagena and Medellin to Barranquilla, Colombiaoffers an experience for everyone, including beautiful landscapes, rich culture and heritage, cosmopolitan cities and world-class cuisine. Now, the hotel industry is seeing great opportunity in our tourism boom and the benefits of doing business in Colombia."

With tourism numbers growing over seven percent from 2012 to 2013, according to MICT, Colombia is on track to meet its 2014 goal of four million tourists. While the country's temperate year-round weather and stunning landscapes, including beaches, snow peaks and natural parks, make it an ideal place to visit for leisure travel, a major driver of overall growth is through the increase of business travel to the country. For example, MICT notes that the number of business travelers that visited Colombia in 2013 increased over 51 percent from 2012. In addition, the International Congress and Convention Association (ICCA) ranked Colombia 28th in its yearly classifications for meetings destinations by country, climbing 22 places from 2006 to 2013.

By the close of 2014, MICT expects that 6,964 additional hotel rooms will be available in Colombia, adding to the 15,245 hotel rooms that were built from 2004 to 2012. New properties include:

  • Bastion Luxury Hotel (Cartagena) –The Bastion Luxury Hotel, which opened in Cartagena under GHL Hotels, has 51 luxury bedrooms and is modeled after 16th century colonial era buildings, though mixed with modern art and architecture. Located in the heart of Cartagena's historic district, the Bastion Luxury Hotel is perfect for travelers looking to explore the city's sites. (Source)
  • Cali Marriott Hotel (Cali) – The Cali Marriott Hotel opened in February 2014 in Granada, the heart of Cali's financial and entertainment district. Ideally located with 170 hotel rooms and modern amenities, the hotel includes the Tanoshii Lounge, a bar integrated into the outdoor pool and terrace where visitors can enjoy music, food and beverages and a vibrant atmosphere. (Source)
  • Radisson Cartagena Ocean Pavillion Hotel (Cartagena) – A new luxury hotel located on the gorgeous La Boquilla Beach in Cartagena, Radisson Cartagena Ocean Pavillion Hotel offers 233 rooms and premium on-site amenities including an outdoor pool, restaurants and bars and a state-of-the-art fitness center. The property opened in February 2014, and makes exploring attractions such as the ancient walled city district and the Fortress of San Felipe de Barajas easy and convenient. (Source)
  • Hotel Movich Buro 26 (Bogota) –Bogota's Buro 26, which opened in April 2014, is the newest addition to the Movich Hotels. The 252 room hotel, adjoined to El Dorado International Airport, is convenient for all travelers seeking modern amenities, event space, fine dining, a trendy bar and lounge and top of the line gym and spa facilities. (Source)
  • W Bogota Hotel (Bogota) – Slated to open in September 2014, W Bogota Hotel is a 168 room property, including 33 suites and an Extreme Wow Suite, in the upscale Santa Barbara Business Center. With its convenient location, modern amenities and 818 square meters of dynamic function venues, the hotel will be an ideal place for both business and leisure travel. (Source)

Colombia offers attractive incentives to hotel owners, operators and developers for investment in the hotel industry. For example, income tax exemptions are offered for 30 years for hotel services offered in new hotels or hotels that are renovated or extended in the period from 2003 to December 2017, valid from the start of operations. In addition, with both urban sprawl and an unparalleled natural setting, the development opportunities for the hotel industry are diverse, and include the wellness, nature, sun and beach, city hotels and entertainment sectors.

Source : Proexport Colombia

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