So says a report published by Jones Lang LaSalle Hotels, which revealed occupancy rates, revenue per available room and average daily rates all increased in 2011.
The firm highlighted the global sporting events Brazil is hosting in the next four years - including the Fifa World Cup in 2014 and the Olympic Games in 2016 - as other reasons why investors are interested in the Brazilian real estate market.
Clay Dickenson, executive vice-president for the company and leader of its strategic advisory and asset management division in Latin America, commented: "The Brazil lodging industry fundamentals remain extremely positive for the future. The next five years, with an influx of visitors to the international games, are expected to boost the still under-developed transaction market."
Last month, Roberto Jeolas, chief executive officer and owner of Grupo HG - a Brazilian hotel management and investment firm - stated there has never been a better time to enter the country's hospitality industry, adding local knowledge is vital if an investment is to succeed.