Investment in the Colombian hotel industry will reach $2bn by the end of 2011, according to Cotelco, Colombia’s hotel association.

Cotelco president Juan Leonardo Correa said the industry’s growth rate would be between 10% and 20%, reports

Correa noted that the hotel investment for 2010 was $1.7bn.

"This year we estimate that we are going to reach $2bn," he said. "This is because we are counting on hotel projects to be initiated in January, February and March 2012."

The group attributed the industry growth to tax exemptions for hotel construction works and improved security conditions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.