Accor, the French hotel group which operates 3,500 properties worldwide, is planning to invest US$100 million and build ten new hotels in Argentina as part of an aggressive Latin American expansion.
The announcement, made yesterday in a meeting between Accor representatives and Argentina’s Ministry of Tourism, is another foreign vote of confidence in the country’s future and the tremendous untapped tourism opportunities beyond Buenos Aires . Accor’s last major move in Argentina was an existing portfolio acquisition in July 2012.
New Argentina Hotel Locations
Most of the new Accor hotels in Argentina will be built in the country’s underserved interior including an 88-room hotel in Santa Rosa, La Pampa, a 130-key property in Bariloche, a 98-room hotel in Rio Cuarto, Cordoba and a 100-key property in Iguazu. Accor also plans to build a 115-room property in the City of Buenos Aires and a 110-key Ibis property in the Province of Buenos Aires.
The new hotels will more than double the number of Accor properties in Argentina from 8 to 18 and create 2,500 new jobs. The Argentine investment is part of the company’s billion dollar regional expansion (US$1.064 bn) which envisions the inauguration of 136 new hotels in Latin America in the coming years. (Full Story in Spanish)
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