BHG Announced it Took Over the Management of Royal Tulip Rio de Janeiro on October 1

Oct 03, 2011, 07:30 ET from BHG S.A. - Brazil Hospitality Group

SAO PAULO, Oct. 3, 2011 /PRNewswire/ -- BHG S.A. – Brazil Hospitality Group (BM&FBovespa: BHGR3) announces that, as of October 1, 2011, it took over the management of the hotel complex in Sao Conrado, Rio de Janeiro.

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By common agreement and following a friendly process, as of September 30 the hotel (which had operated under the "Intercontinental" brand) will no longer be managed by IHG. BHG will take over the management of the complex on the following day, already under its new name, Royal Tulip Rio de Janeiro.

The period of transition began on March 22 of this year, with the purchase of shares representing 100% of the share capital of Brascan Imobiliaria Hotelaria e Turismo S.A., the previous owner of the hotel.

According to BHG CEO, Pieter J. F. van Voorst Vader, "hotel operations were not interrupted at any time."

This hotel will add 418 high-end rooms to BHG's portfolio, bringing it to 7,068 rooms distributed in 36 hotels.

Who We Are:

BHG S.A. – Brazil Hospitality Group is one of Brazil's leading hotel companies, with a portfolio of proprietary hotels and others that it manages, all in the 3, 4 and 5 star category.  The company is responsible for the Golden Tulip brand in South America.

BHG is a traded company, with its shares traded on the BM&FBovespa Novo Mercado with the ticker symbol BHGR3.

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BHG S.A. – Brazil Hospitality Group
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SOURCE BHG S.A. - Brazil Hospitality Group