Dubai's Jumeirah Group plans to open its first hotels in Brazil as rising incomes in Latin America’s largest economy and the 2014 World Cup and 2016 Olympic games generate demand, according to a report.

'The time is right now for us to be entering the Brazilian market,' James Erlacher, senior vice president of development for the Americas at the Dubai-based Jumeirah Group, told the Bloomberg.

Jumeirah’s priority is to operate hotels in Sao Paulo and Rio de Janeiro, Brazil’s biggest cities, and it’s also considering resorts 'primarily in the northeast part of the country,' Erlacher said.