The company responsible for Dubai’s iconic Burj Al Arab Hotel is planning to build a luxury hotel complex in Bogota, as the hospitality giant seeks to expand into the Latin American market.
The Jumeirah Group, who built the world’s only seven-star hotel, is currently developing hotels in Panama and Buenos Aires, and the pre-development of its Bogota project is at an advanced stage, according to La Republica, meaning that construction could begin in the coming months.
Investment could total $70 million, which would be on par with the Medellin hotel being built by U.S hotel chain the Four Seasons.
A conference for tourism and hotel development is set to be held in Cartagena from September 27-28 of this year and organizers hope that it will convince other companies to invest in the region.
Arturo Garcia Rosa, of hotel consultancy group HVS, said that Latin America and Asia Pacific are the only two regions in the world that will see a growth in tourism this year and that Colombia and Brazil are particularly attractive destinations for investors.