French hotel chain Accor has unveiled a plan to open 75 new hotels in Latin America over the next two years.
The company plans to invest $667m in the expansion project, which will be funded by Accor’s partners. They will be operated by the company’s hospitality chain Accor Hospitality.
Brazil will receive 80%% of the investment for the 64 hotels planned, of which 44 will be operated under the Ibis brand, seven under the Formule1 brand, four as Novotel and nine under the Mercure brand.
Only two of the new Brazilian properties, however, will be owned by the French company, which currently runs 143 hotels in Brazil.
Accor will own ten of the 11 hotels being built in other countries, according to laht.com.
The company said this year it will spend $180m to open 16 hotels in Brazil, two in Chile, one in Colombia and one in Paraguay.