Investment in Hotel
Infrastructure and Tourism
Hotel Infrastructure and Tourism
The main benefits for investments in this sector include an income tax exemption for a period of 30 years. This exemption applies to new hotel projects and also for those of remodeled and/or expansion projects which began between 2003 to December 2017.
Colombia’s tourism industry is dynamic and is growing at a fast pace. The arrival of foreign tourists in Colombia rose from 600 thousand in the year 2000 to 1.7 million in 2012, showing an average annual growth of 10%. This figure is three times higher than the world's average, and is among the most impressive in the region. (Immigration Department of Colombia – Ministry of Trade, Industry and Tourism, 2013).
- The impressive performance of the Colombian economy.
- The increase of international tourism arriving to Colombia is above the world's average.
- Appealing incentives for hotel project investments.
- Strategic location and accessible air connectivity.
- Increasing hotel demand and supply.
- Committed workers with outstanding training and education.
- Colombia’s tourist destinations are renowned around the world and provide unique experiences.
- More hotel project ventures as a result of the arrival of more multinational companies.
The above are some of the reasons why you should invest in the hotel infrastructure in Colombia. Take a close look at these and other investment advantages to choose Colombia for your next project.
The hotel and infrastructure sector has the following products to attract investment:
- Healthcare: Development of hotels devoted to improve and support health. Construction of thalassotherapy, hot springs, spas and beauty centers (Business Plan, Wellness Tourism– PTP)
- Cartagena, Santa Marta, San Andres, and La Guajira.
- Nature: Development of eco-Luxury hotel projects, including Eco-gambling, Ecolodges, Camping and sustainable green developments to provide access to the nature tourism services available across different regions of Colombia (Business Plan, Nature Tourism – PTP)
- Santa Marta, the Amazon, the Coffee Region, and Choco.
- Sun and Beach: Hotels to complement the existing services in Colombian coastal cities.
- Cartagena, Santa Marta, San Andres, and Providencia
- Entertainment: Development of entertainment projects including theme parks, concert halls and auditoriums, convention centers, etc.
- Bogota, Medellin, the Coffee Region, Santa Marta, Cartagena, Santander
- Urban: International franchises addressing select services for the corporate sector. Development of long-stay hotel projects.
- Bogota, Medellin, Cali, Cartagena, Barranquilla, Santa Marta, La Guajira, Santander, the Andean region, and the Coffee Region.
- Also, there are possibilities for REITs and investor groups interested in local real estate and hotel projects and who are in search of funding.
The top regions with investment opportunities in the Hotel Infrastructure and Tourism sector are:
- Hilton Hotels Corporation: This American chain opened its first hotel in Bogota's financial district (73rd Street), with approximately 240 rooms focusing on business tourism. Hilton operates in the Caribbean region of Colombia through the Hampton brand in Cartagena and Barranquilla. PROCOLOMBIA supported and advised this company to launch operations in Colombia.
- IHG: Holiday Inn hotels opened in Bogota and Cartagena, and combined provide 331 rooms. Also, there is a Holiday Inn Express in Bogota with 76 rooms, one in Cucuta with 98 rooms, and one in Bucaramanga with 170 rooms. Currently, there is an Intercontinental hotel under construction in Cartagena. PROCOLOMBIA supported and advised this company to break ground in Colombia.
- Marriott: The American company Marriott International operates in Bogota with a 239-room hotel located in the southern section of El Dorado Avenue, 15 minutes away from the international and domestic air terminals. Also, the prestigious 264-room JW Marriott hotel opened in Bogota’s financial district (72nd Street), and a 182-room Marriott hotel will soon open in Cali. PROCOLOMBIA supported and advised this company to begin operations in Colombia.
- Accor: Ibis Bogota is located in the International Center (one of Bogota’s business districts), close to the National Museum, 15 minutes from the Colonial Candelaria district and 45 minutes away from the airport. Medellin also has an Accor hotel brand which has added 216 rooms to the city. PROCOLOMBIA supported and advised this company to launch operations in Colombia.
- Hyatt: The American hotel chain Hyatt started operations in Colombia with the construction of a 335-room five-star hotel in Bogota. PROCOLOMBIA supported and advised this company to launch operations in Colombia.
- NH Hotels: The NH group began operations in Colombia with the construction of the NH 93 hotel, located in the prestigious northern zone of the Parque de la 93 in Bogota. Also, they plan to open another hotel in Medellin. PROCOLOMBIA supported and advised this company on launching operations in Colombia.
- Pestana: This Portuguese hotel chain entered the Colombian market by launching the Pestana Bogota 100 hotel, built in the capital's major northern commerce district. This is an 82-room hotel. PROCOLOMBIA supported and advised this hotel company to start business in Colombia.
- Sonesta: This American hotel chain operates in five Colombian cities: Bogota, Cartagena, Barranquilla, Valledupar, and Villavicencio.
- Starwood: The Sheraton Cartagena is located in El laguito. This is a 256-room First Class - Full Service hotel with a large events hall. The brand has a 246-room Sheraton hotel in Bogota, and an Aloft hotel close to the airport. The chain also operates in Cali and Medellin through its Four Points hotel brand. PROCOLOMBIA supported and advised this company to invest in Colombia.
- Radisson: This hotel chain opened the Radisson Royal Cali Hotel, which is the first hotel in its category in Latin America not located in a country’s capital city. Also, this company will soon open a 233-room hotel in Cartagena.
Source: Top Media Outlets in Colombia
These are just some of the reasons to invest in Hotel Infrastructure and Tourism, read on to learn of more reasons why to make Colombia the destination for your projects.
Juan Sebastian Pérez
In PROCOLOMBIA we attend to companies, legal persons and national entities and foreigners who are interested in the direct investment in Colombia.
For the nature of our activities, we do not attend to requirements of investment of natural persons.
We suggest you review our Frequently Asked Questions on Investment in Colombia before you send us your inquiries.
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