InterContinental plans to return to Rio in time for Olympics

[RIO DE JANEIRO] InterContinental Hotels Group, the world's largest provider of hotel accommodation, is returning to Rio de Janeiro after losing its only location to Louvre Hotels Group three years ago.

InterContinental plans to open a Holiday Inn and a Holiday Inn Express before the 2016 Olympics and is looking for other properties closer to Rio's beaches, said Salo Smaletz, vice-president of development for Latin America. Louvre bought the hotel InterContinental managed a few hundred metres from the seashore in the Sao Conrado neighbourhood in 2011.

"We want to return to Rio," Mr Smaletz said. "The market is very attractive and there is currently a deficit of quality hotels." The hotels will be in a downtown port area the city is turning into a business and residential hub with a new road network and a light-rail system.