According to Colombia's Ministry of Commerce, Industry and Tourism (MICT), Colombia was host to 3,747,945 foreign visitors in 2013. As a result, the country's hotel industry is experiencing significant growth with the presence of major hotel chains increasing and the investment of up to $75 million in new properties. Current chains with existing or planned developments in the country include Radisson Hotels, Sonesta Collection, Melia Hotels International, Iberostar Hotels & Resorts, Ibis, Hyatt Hotels, TRYP Hotels, W Hotels and more.
With tourism numbers growing over seven percent from 2012 to 2013, according to MICT, Colombia is on track to meet its 2014 goal of four million tourists. While the country's temperate year-round weather and stunning landscapes, including beaches, snow peaks and natural parks, make it an ideal place to visit for leisure travel, a major driver of overall growth is through the increase of business travel to the country. For example, MICT notes that the number of business travelers that visited Colombia in 2013 increased over 51 percent from 2012. In addition, the International Congress and Convention Association (ICCA) ranked Colombia 28th in its yearly classifications for meetings destinations by country, climbing 22 places from 2006 to 2013.
By the close of 2014, MICT expects that 6,964 additional hotel rooms will be available in Colombia, adding to the 15,245 hotel rooms that were built from 2004 to 2012. New properties include