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Private Investments in Colombia's Hotel Sector |
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Monday, January 15, 2018
Bogota.- Private investments in Colombia's hotel sector totaled 1.957 billion dollars over the 14-year period between 2003 and 2017.
According to tourism authorities, during the said period, more than 75,300 rooms were built and remodeled.
Experts noted that that result was caused by a decree that exempted the tourism industry for paying taxes on the rent for 30 years for the establishments built in that period.
As an example, 2016 was the year when the largest investments were made, totaling 378 million dollars that allow building 5,838 rooms.
In 2017, the main projects carried out in Colombia were the hotels Holiday Express Barranquilla (154 rooms), Crowne Plaza Barranquilla (76 rooms), Hampton by Hilton Medellin (132 rooms) and LQ La Quinta Medellin (82 rooms).
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