BUENOS AIRES, ARGENTINA—SAHIC, a Latin American hotel and tourism investment conference, has formed a joint venture with Bench Events, which offers hotel investment events across Europe, the Middle East and Africa.
The SAHIC South America event, now in its ninth year, has drawn hotel investors, C-level hotel executives and major developers. Bench Events has committed to SAHIC with a 50% investment. Going forward, the plan is to promote SAHIC to Bench Events’ subscriber base and to expand the SAHIC brand into other parts of Latin America, according to the company.
“With our upcoming SAHIC event in Guayaquil, Ecuador, and with the participation of Cuba for the second consecutive year, now is the perfect time to introduce this part of the world to a new group of investors and potential opportunities,” said SAHIC President Arturo Garcia Rosa.
Garcia Rosa added, “With the new administration and positive political reform in Argentina, the fall in the cost of assets in Brazil, owing to the devaluation of its currency and the intense focus on tourism development in Ecuador, for example—the commercial opportunities in Latin America are robust. Countries such as Peru, Colombia and Paraguay have all shown consistently positive economic growth rates, and there is a strong choice of regional hotel companies available who are capable of managing new properties.”
“Bench Events will help us bring those interested investors with capital from Europe, the Middle East and Asia,” continued Garcia Rosa. “The willingness in Latin America to partner with international investors adds to the attractiveness of the region and it will help us showcase the multitude of opportunities that abound.”
Bench Events President Jonathan Worsley stated, “I am delighted that Bench Events will have the opportunity to work so closely with Arturo who has clearly proven to be one of the most important figures in the Latin American hospitality development industry, and with SAHIC—the premier investment conference brand in the region. SAHIC brings excellence to its world-class events, and Bench is delighted to bring our conference planning, outreach and know-how to the SAHIC team.”
With regard to the factors making Latin America particularly attractive to hotel investors, Garcia Rosa highlighted a fall in the value of local currencies, which has made good quality assets available at an affordable price. For example, in Brazil, Uruguay and Colombia, currency devaluation has been more than 20% year-on-year, rising slightly to above 30% in Brazil and Uruguay.