Marriott to triple Brazil hotels on hopes that recession would be brief
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Sao Paulo
US hotel chain Marriott International Inc plans to almost triple the number of its hotels in Brazil, in a bet that the nation's worst recession in a quarter-century will be short-lived.
The company will spend 400 million reais (S$146.4 million) in Brazil by 2018, part of which will go to add three more hotel brands focused on domestic travellers, Tim Sheldon, Marriott's president for Latin America and the Caribbean, said on Tuesday.
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