SAO PAULO, Dec. 13, 2010 /PRNewswire-FirstCall/ -- BHG S.A. – Brazil Hospitality Group (BM&FBOVESPA: BHGR3) is reporting the acquisition of two hotels in Belem, capital of the state of Para, adding another 190 rooms to its network and consolidating the company's position as the third largest hotel group in the country. Through these acquisitions, BHG has now planted its flag in the north and has a presence in all of Brazil's regions.
The announcement came shortly after the disclosure Wednesday (December 8) through a market announcement of the signing of another Memorandum of Understanding for the development of a "limited services" Tulip Inn hotel in the city of Campos dos Goytacazes, in Rio de Janeiro, continuing its aggressive strategy to develop economic class hotels.
Expresso XXI Batista Campos and Expresso XXI Nazare currently are operated by Solare and will adopt the Tulip Inn brand after the period of transition. The hotels are strategically located near important commercial centers in Belem, in the upscale neighborhoods of Batista Campos and Nazare, respectively. The hotel in Batista Campos, inaugurated in 2005, has 90 guestrooms whereas the Nazare property, opened in 2009, has 100 guestrooms.
The acquisitions mark the entry of BHG into one of the most important export sectors of Brazil. The state has been benefiting from a major series of both public (particularly through the resources of the Accelerated Growth Program (PAC)) and private investments. These include, for example, the construction of the Belo Monte hydroelectric power plant, the expansion of the Carajas mining complex owned by Vale, as well as the development of major real estate and infrastructure projects, such as two new shopping centers, highways, and the expansion and modernization of the Vila do Conde port.
"Our objective is to consolidate the business hotel industry in the country. In order to do this, we need to be present in every region. These hotels are strategically located in the best neighborhoods of the city of Belem. They are new hotels that add 190 guestrooms to BHG and strengthen our position as one of the largest companies in the sector," said Pieter J. F. van Voorst Vader, president of BHG S.A. – Brazil Hospitality Group.
BHG S.A. - Brazil Hospitality Group is the third largest hotel group in Brazil. We manage hotels divided into three, four and five-star categories. BHG has an exclusive agreement with Golden Tulip Hospitality Group in South America, using the brands Royal Tulip, Golden Tulip and Tulip Inn. In our hotel portfolio, we also have the exclusive Txai Resort, in Itacare (Bahia).
BHG's (BHGR3) shares are traded on the Stock Exchange New Market of Sao Paulo Stock Exchange (Bovespa).
BHG S.A. – Brazil Hospitality Group
11.3577.2302 / 11.9668.7249
SOURCE BHG S.A. - Brazil Hospitality Group