Updated:ORANGE COUNTY, Fla. —
One of the largest tourist groups that visit central Florida are is becoming one of the largest investment groups in the tourist corridor.
Construction dirt is still being moved at a new hotel on International Drive. WFTV's Racquel Asa learned that the investment group behind the property is based out of Brazil.
"They bought this property for $11.7 million and they also put in a substantial amount of money to renovate it," said Marco Manzie of the Paramount Management Group.
The 650-room hotel is expected to open in February and is expected to add 150 new jobs to central Florida.
"We're going to bring in more tourism than was coming to this property in the past," said Manzie.
A large number of Brazilian investments are being made on International Drive.
Pao Gostoso Bakery on International Drive just joined the Central Florida Brazilian Chamber of Commerce last year. It's one of 70 new members to join in 2012.
"So it's almost like they are taking over I-drive?" Asa asked Laiz Rodrigues of the Central Florida Brazilian Chamber of Commerce.
"Yes they are," said Rodrigues.
The investment group behind the hotel renovation at the old Econo Lodge is also looking at other investment opportunities on International Drive.
The popular Pointe Orlando Resort and Floridays Resort are also backed by Brazilian investors.
Brazilian investors going in big along International Drive
Police: Man beats wife, injures motorist before jumping off Daytona Beach bridge
Kissimmee woman charged with leaving scene of fatal crash
Clinton says veep pick Kaine is everything GOP ticket isn't
Report: Florida men linked to ISIS terror cell in Syria