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