SAO PAULO & ORLANDO--(BUSINESS WIRE)--Tourico Holidays, the world’s fastest growing wholesale travel brokerage company, today shared data revealing a 45 percent year-over-year increase in hotel room nights in Latin America. The company is also reporting a 70 percent year-over-year revenue increase generated from the Latin American market in 2016, as inbound bookings surge.
The significant growth in Latin American hotel room nights can be attributed to the increased demand from major source markets throughout the world. USA and Canada increased hotel bookings to LATAM by 47 percent and 207 percent respectively in 2016. Asian bookings to LATAM grew by 220 percent – with China’s bookings increasing by over 400 percent. Europe, as a whole, also drastically increased its demand for LATAM, increasing bookings by 37 percent overall. Australia increased bookings to LATAM by 141 percent.
“There are a number of encouraging reasons the LATAM travel market is growing and shows no signs of slowing down,” said Gisela Blok, Vice President of Product in Latin America for Tourico Holidays. “Several of the domestic economies, such as Brazil, are beginning to bounce back. Meanwhile Europe and the United States continue to add more inbound flights at very attractive prices – funneling more travelers into the region.”
Tourico Holidays currently has over 6,000 hotel partners in Latin America – including Hyatt, Starwood, Wyndham, Marriot, Hard Rock, Posadas, Barcelo, Sunset and other major suppliers. Tourico also commits to pre-purchasing large room blocks at over 200 hotels in Latin America – offering distribution clients “ExclusiveDeals”, which guarantee a savings of over 40 percent off of retail prices.
The company has offices in Buenos Aires, Argentina, Sao Paulo, Brazil, and Cancun and Mexico City, Mexico. In the past two years, Tourico has doubled its LATAM personnel with over 65 employees stationed in the region and it plans to hire another 10 employees in 2017.
“Tourico maintains a very strong inventory and presence in Latin America, but we’ll continue to strike pre-buy deals with hotels in the region, ensuring travel distributors throughout the world have access to the finest inventory at the best rates,” said Blok.
About Tourico Holidays
Tourico Holidays is a leading global travel distribution company that contracts directly with travel providers, such as hotels, flights, cruise lines, attractions, car rentals, vacation homes and more. Tourico Holidays works on a high-volume, wholesale model to broker this inventory to over 4,900 clients in 100 countries using proprietary technology.