The hotel sector in Lima is recovering: Best Western will double its presence in the capital.

The hotel sector in Lima is experiencing a gradual recovery after facing challenges in early 2023, marked by social protests that affected economic activity. However, indicators show signs of improvement, with a growth of 3.53% in the accommodation sector during the period from January to November of last year, according to data from the National Institute of Statistics and Informatics (INEI). In this context, the hotel chain Best Western has stood out for its positive advances, with an increase in average occupancy of 65% in its two operations in Lima during 2023 and an almost 20% increase in rates compared to the previous year. Looking ahead to 2024, the company plans to double its presence in the Peruvian capital, entering an area that currently lacks hotel brands. The Director of Development for Best Western in Latin America, Luis Alberto Tito, announced that the chain will open a hotel in Lima East, which is expected to be the brand's first in that area and will have 82 rooms. This new project, scheduled for late 2024, will focus on business travelers who actively pass through that area of the city. It was also mentioned that the chain has three more projects underway in Peru, including developments in Iquitos and Miraflores by independent investors. Likewise, there are growth opportunities in the northern and southern areas of Lima, as well as in regions such as Pisco and Ica, where an increase in investment in the hotel sector is expected. With optimistic projections for 2024, it is estimated that the occupancy of Best Western hotels in Lima will range between 75% and 80%, and it is believed that hotel rates can recover to pre-pandemic levels. The recovery of corporate and business tourism is seen as a key element in achieving these objectives, with the early return of this segment in the capital. Despite persistent challenges, such as political instability and security issues, both Best Western and the hotel sector as a whole are focused on seizing growth opportunities and contributing to the economic recovery of the country. With a well-defined expansion strategy, it is expected that 2024 will be a year of consolidation and recovery for the hotel industry in Lima and throughout Peru.