Rio hotel stock on course to meet peak Olympic demand
Officials in Rio de Janeiro say the city will by the end of the year reach the required number of hotel beds needed to meet demand for the 2016 Olympic Games.
Games officials said at least 48,000 beds were necessary to accommodate all sports fans and the city’s hotel industry is on track to reach that by the end of 2015.
There are currently about 34,000 hotel beds available and in 2015 alone, another 15,000 hotel beds will be added.
Of those more than 10,000 will be sited Barra da Tijuca, the main district of the Olympic Games.
Barra da Tijuca will be welcoming a Hilton hotel, a Grand Hyatt Hotel and a Trump Hotel, according to a Rio Times report.
Once the Olympics closing ceremony is over, the problem of an oversupply of hotel rooms needs to be addressed, said Alexandre Sampaio, vice president of SindRio, the hotel, bar and restaurant union.
“We will exceed expectations in terms of number of rooms and hotels for 2016 but that throws us into a short-term problematic reality, in an economic bad time. We run the risk, for example in case of oversupply, of price decreases after the Olympics.”
However Rio Hotel Association CEO president Alfredo Lopes says stable occupancy rates can be achieved with increased marketing, especially by promoting Barra da Tijuca itself as a leisure destination.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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