Record Demand for 5-Star Hotels in Buenos Aires

Patrick Archer foreign investment, hotels & casinos, lifestyle, tourism

Argentina welcomed a record number of tourists last year, and a new report from INDEC suggests foreign visitors are increasingly opting for four and five-star accommodations in Buenos Aires.

According to Abeceb, 1.3 million tourists checked into Argentine hotels in November, the most recent month for which data is available, and 69% of those guests were Argentines while 31% were foreigners.

While 43% of residents opted for 3-star hotels, boutiques and apart-hotels, almost 60% of foreigners checked in to 4 and 5-star hotels and boutique hotels. The fact that 58.43% of foreign visitors are opting for the most luxurious accommodations available suggests Argentina is still a relatively affordable destination for world travelers. On the lower end of the lodging spectrum, only 7% of foreigners chose 1 or 2-star accommodations, while 34% made reservations at a 3-star property.

With foreign visitors seeing and demanding more estrellas portenas, developers are responding with the launch of no fewer than nine new five-star hotels in Buenos Aires in 2011 representing a combined investment of US$240 million. Currently, Buenos Aires has 455 hotels of all categories with 25,850 rooms and 56,043 beds. A grand total of 20 hotels, mostly luxury properties, opened in 2010 adding 650 rooms and 1,423 beds to the BA lodging mix. (Full Story in Spanish)

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