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Cover Story: Prosperidad Latina

While hotel growth in Asia and the Middle East has grabbed headlines, a ‘quiet boom’ has been drawing U.S. hospitality brands to Latin America.
BY JERI CLAUSING

FOR THE PAST FEW YEARS, MOST TALK OF HOTEL GROWTH HAS FOCUSED on Asia and the Middle East. But a perfect storm of sorts south of the border is fueling a quieter boom that has developers scouring new sites from Mexico to Panama City to Bogota, Buenos Aires and points in between.

“It’s an interesting moment for the hotel industry in general in Latin America,” said Ricardo J. Suarez, vice president of acquisitions for Starwood Hotels and Resorts’ Latin America division. “We are seeing a historic boom that we haven’t seen in a number of years.”

The factors driving the Latin American boom are similar to those driving the phenomenal growth in countries like China and India: booming or stabilizing economies, a growing middle class, increased regional business travel and more political stability. ...

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