This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Rio's Moment Nears Without Top New Hotels

RIO DE JANEIRO ( TheStreet) -- The endless parties and fireworks of New Year's Eve in Rio de Janeiro were to mark the beginning of a 'Golden Decade' for Brazil's second-largest city, which will host the 2014 World Cup and 2016 Summer Olympics.

Contrary to the media coverage of endless urban violence, Rio is benefiting from a booming economy and stronger police control of its more than 100 favelas, impoverished neighborhoods notorious for their drug lords and rampant gang violence. Along the streets of Leblon and Ipanema, two of the city's chicest neighborhoods, an improved economy is seen in the city workers sweeping sidewalks and maintaining one of the cleanest cities you'll see in South America -- or anywhere.

But while most of Rio seems to be sizzling, its hospitality industry seems to be on more of a simmer, with few hotel projects on the horizon even with so much going in its favor.

Ipanema Beach in Rio, Brazil's second-largest city.

Rio de Janeiro's hotel landscape continues to be dominated by behemoth high-rise relics that are decades old, or by lackluster American and European chains that don't always live up to their luxury moniker. Perhaps the most famous of Rio's hotels, Copacabana Palace, is owned and operated by Orient Express, which maintains an impeccable luxury property at the edge of Copacabana Beach that's been the city's most prestigious address for almost a century.

Opened in 1923 and inspired by the hotel palaces of the Cote d'Azur, an opulent resort of sprawling swimming pool, outpost of Cipriani Restaurant and hot new nightclub called Bar du Copa make it one of the fancier destinations for Rio visitors. The hotel is also host to an array of be-seen VIP events, such as an annual New Year's Eve fete and Grand Carnaval Ball where guests dress in couture costumes and black tie. This year's Carnaval event will feature a "Leopard" theme for its March 5 masquerade event, for which tickets will cost upward of $750.

On the downside, the Copacabana location of Rio's poshest address has evolved into one of the city's more touristy neighborhoods. Visitors to the hotel tend to stay close to the property, preferring to frequent the in-house beach club, where security hovers over your belongings as you take a dip.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs