COLOMBIA-The hotel industry is picking up at a quick pace inColombia, thanks to the President Alvaro Uribe, who has welcomedinternational investment. This year alone about 4,700 rooms areexpected to be added to the market, with hotel chains likeInter-Continental, NH Hotels, Sonesta and Hilton.
A 264-room Marriot hotel was recently inaugurated in thepresence of President Uribe. One key factor that is pushing thehotel industry there is the 20-year exemption on income tax for newhotels. For the full story, go to Los Angeles Times.
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