Hotel investment projects expected to reach US$ 161 million

Peru has quite the reputation for opening award-winning hotels. Earlier this year TripAdvisor named two Cusco hotels in the top 25 of the world.

This year’s investments in Peru’s hotel industry are expected to amount to US$ 161 million and be directed to 11 new hotels reaching a capacity of 1,242 rooms, according to Andina news agency.

The General Manager of the Hotel Association of Peru, Tibisay Monsalve told Andina that 4 of the 11 announced projects have started operations and the remaining seven have a fair amount of construction done.

“This is a very promising scenario for the hotel investment sector, taking into consideration that Lima had no hotels opened last year, unlike provinces, where this did occur, but just at local brands,” she said.

The hotel business association carried out a study that found that last year’s investment projects totaled to US$ 61 million which amounted to 490 rooms.

SHP Consultant Gianfranco Aliaga pointed out that the estimated growth generated for this year is partly due to the fact that hotel chains have now made commitments to corporate clients.

“We are talking about those businessmen interested in investing, who also require a standardized and adequate accommodation for their stay,” he stated, according to Andina news agency.