Since its formation in 1998, Atlantica Hotels International has grown to more than $675 million in assets under management. With 14 hotels open and operating and additional hotels opening every 20 days, the company expects to have 25 hotels open by year-end.The new partnership will develop first-class Radisson hotels and resorts and expects to add 10 hotels and resorts during the next three years, says Jay Witzel, president and COO of Radisson Hotels & Resorts. The first Radisson hotels in Brazil are expected to open this summer.
"This partnership is a win-win agreement because it combines the seasoned experience of Atlantica Hotels' development and management in Brazil with Radisson's sales and marketing expertise in the global marketplace," Witzel says.
Brazil has a bustling economy with the fifth-largest consumer base and is growing in popularity as a leading tourism destination, Witzel says. During 2000, 5.3 million travelers went to Brazil, a number that is projected to grow to 6.5 million visitors by 2003, he adds.
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