Often cited as the greatest event in the world, the tournament is expected to be a major boost for the Brazilian economy, particularly for the hospitality industry as an estimated US$ 25 billion is expected to be spent by football lovers. Brazil is witnessing an explosion of hotel inventories supply with over 173,000 new rooms being added before the event. With the online travel industry growing at over 34 per cent, eRevMax believes there was never a better time for the Brazilian hotel industry to sell its inventories by reaching out to online buyers.
Tourist influx along with relatively lower room availability has led to a steep increase in hotel prices. The average hotel rate in cities like Rio de Janeiro is expected to be 50 per cent more than what it would be during Olympics 2016. Brazil is the most popular travel destination in Latin America, and also by far the most expensive. eRevMax warns Brazil hoteliers to utilise the high demand to raise profitability, but give attention to the shoulder seasons on either side of this mega event as they are expected to be leaner periods than in normal times.