by By Michael J. Shapiro | September 09, 2009

Owners of the 197-room Alvear Palace Hotel in Buenos Aires announced last Wednesday plans to open two new hotels in the city in 2012. They already have begun development on the 150-room Alvear Plaza San Martin, a business hotel near the city's commercial center that will offer a fitness center and meeting and event space. The 150-room Alvear Puerto Madero, which also will offer 40 residences, will include a 1,000-person ballroom, a restaurant, additional meeting rooms and a spa with an indoor pool.