Mexico and Singapore cut a deal to pour $60 million worth of investment into the development of Acapulco´s travel industry, in the state of Guerrero. The pact was inked by Banyan Tree Hotels & Resorts and the Mexican Development Group. According to a press release issued by Mexico´s Tourism Department, the accord will pave the way for the construction of the first Banyan Tree resort in Acapulco´s Punta Diamante, the most exclusive area of this destination of the Mexican Pacific.

With a view to pump up the Latin American image in the United Kingdom, a new PR agency called Branding Latin America will set up shop in London to advertise the region’s travel industry and exports. Led by Argentinean Rodolfo Milesi, the agency will operate in close collaboration with Chime Communications, one of the premier public relations companies in the U.K.

U.S. carrier Continental Airlines (CA) reported quarterly losses as a result of spiking oil prices, quite a setback from last year’s results after the company received a megabuck bailout package granted by the U.S. government. CA informed a $17 million shortfall, 26 cents per share in the stock market, compared to the $79 million worth of profits ($1.10 per share) chalked up in the same period the year before.

The skyline of Punta del Este, Uruguay, will sport new buildings if the current plans of several corporate groups from the turf and overseas finally allowed these entrepreneurs to cut a deal for as many as $150 million. One of the projects embraces the construction of a 35-story building, the tallest high-rise in the famous tourist circuit, for $40 million.

The Americas Soccer Cup that came to a close Saturday in Peru brought in as many as 20,000 foreign tourists who shelled out $25 million in the country, Arturo Woodman, president of the Cup´s Organizing Committee, said this week. Ticket sales amounted to $4.7 million in just 17 days as 430,000 soccer fans watched the games in seven Peruvian cities.

A grand total of 583,937 foreign tourists arrived in Costa Rican airports during the first half of the year, up 28 percent from the first six months of 2003. Would this increment continue at a such a white-heat pace, tourism authorities in the country are expecting to put up numbers in the double digits by the end of the ongoing year and rake in some $1.4 billion worth of revenues, nearly $200 million more than in 2003.