New line of funding, up to US$ 160 million, will see expansion of hotels in Rio

The Rio de Janeiro hotel sector will benefit from a new line of funding, which may reach US$160 million, to reform and expand hotels in the south and southeast regions of Brazil. The measure, announced on Tuesday, 4 August, by Minister of Tourism Luiz Barretto, reinforces the objectives of the of the city’s bid to host the 2016 Olympic and Paralympic Games, and will help provide quality accommodation for visitors to the city for the biggest sporting event on the planet.

The credit line will be arranged by the Ministry of Tourism and the National Bank of Economic and Social Development (BNDES) to help meet the demands of the FIFA World Cup to be held in Brazil in 2014. The undertaking increases the synergy between the World Cup and the Rio 2016 candidature. Already confirmed as one of the cities to hold world cup matches, Rio de Janeiro has also presented plans to host the FIFA headquarters, the Media Center and the World Cup final itself, in the famous Maracanã stadium.

In the Candidature File delivered to the International Olympic Committee (IOC), the Rio 2016 bid surpassed the required target of 40,000 rooms, with a plan delivering quality accommodation to all visitors. In addition, 52 new hotels have since signed the commitment to support the bid after the delivery of the Candidature File, providing a further 4,577 rooms.

“With this new credit line, the quality of hotels in Rio de Janeiro will be even better. The Rio 2016 bid met all IOC requirements in the area of accommodation, and new initiatives in the area only reinforce the sector’s commitment to the project,” said President of the Rio 2016 Committee, Carlos Arthur Nuzman.

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Saint-Clair Milesi, Rio 2016