During the first half of 2012 Latin America was the region with the highest growth in its rates, which shows the good state of the hotel industry compared to other areas of the world.
According to the study conducted by Hogg Robinson Group (HRG), the leader in the region was Mexico City with an increase in its prices of 30%. According to the authors of the report, this good performance in Mexico is due to the increase in business tourism added to a limited number of new hotels coming into operation.
Other outstanding destinations in the region are Rio de Janeiro and Sao Paulo with increases of 15 and 23% respectively.
According to Stewart Harvey, commercial director of HRG, this situation is due to the fact that "macroeconomic weakness and uncertainty are driving low fares in Europe, but significant rate growth throughout Latin America indicates a shift in business priorities towards high-potential destinations."
