Leisure & Hospitality Construction Industry in BRIC Countries Reviewed by BRICdata25 Jun 2012 • by Natalie Aster
China has the largest leisure and hospitality buildings (including outdoor leisure facilities) sector among the BRIC countries, followed by India, Russia and Brazil in that order. The refurbishment of existing hotels to meet demand during sporting events such as the 2014 FIFA World Cup and the 2016 Olympic Games is expected to be a key trend in the Brazilian hotel industry. This will avoid an oversupply of hotels, which are already high in number due to the rising popularity of condominium hotels. The Brazilian leisure and hospitality buildings (including outdoor leisure facilities) construction sector size grew at a CAGR of 21.17% during the review period, and is projected to grow at a CAGR of 10.59% over the forecast period.
The new report "Business Opportunities in the Leisure and Hospitality Buildings Construction Industry in BRIC" by BRICdata states that the major forces driving hotel development in Russia include the upcoming international sporting events taking place in the country. The forthcoming 2014 Winter Olympic Games have attracted a number of foreign hotel companies to Sochi, and the country’s hosting of the 2018 FIFA World Cup also offers immense opportunities for the construction of hotels. The country currently suffers from a severe undersupply of budget hotels, which has resulted in high room rates compared to the European average.
Business Opportunities in the Leisure and Hospitality Buildings Construction Industry in BRIC
Published: June, 2012
Price: US$ 2.950,00
The growth of the Indian hospitality industry is expected to come from tier-two and tier-three cities. The 45 cities of India with populations of over million have the most growth potential in the hospitality sector, and major hotel brands are investing in new proprieties in both metro and non-metro cities. Hyderabad, Jaipur, Pune and Chandigarh have emerged as key growth destinations. The growth of tier-two and tier-three cities is driving hotel development activity, which was previously mainly confined to the country’s five main cities.
An increasingly competitive market, high property prices, a limited choice of prime locations and high labor costs in tier-one Chinese cities is encouraging investors in hospitality and leisure to expand their presence into tier-two and tier-three cities.
More information can be found in the report “Business Opportunities in the Leisure and Hospitality Buildings Construction Industry in BRIC” by BRICdata.
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