InterContinental Hotels Group (IHG) [LON: IHG, NYSE: IHG] recently announced the opening of its second property in Cabo San Lucas - the Holiday Inn Express® Cabo San Lucas hotel, a beautiful property with 94 rooms.
Sheraton Reserva do Paiva was developed by the Portuguese group Promovalor and Brazilian group Odebrecht Realizações Imobiliárias under a long-term management contract with Sheraton Hotels & Resorts. It is the first international upper-upscale hotel in Reserva do Paiva, which is located approximately 30 minutes fromRecife.
According to data from STR Global, hotels in Brazil have experienced declines in revenue per available room as they prepare to host the FIFA World Cup, which begins today. The countrys performance is following a similar trend observed by other host countries, including Germany and South Africa.
Data through the Group Stage of the tournament, which includes opening day (June 12) through the close of the Group Stage (June 26), revealed triple-digit increases in spending, compared to the same period last year, in cities such as Natal (+851%); Cuiaba (+963%); Curitiba (+167%); and Manaus (+409%).
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