MARLTON, N.J. and RIO DE JANEIRO, Brazil, March 5, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that its subsidiary Engineering S.A. has been awarded a contract from a Hyatt affiliate to provide construction management services for the new Grand Hyatt Rio de Janeiro in Brazil.
The new hotel, located in Barra da Tijuca beach, one of the most exclusive residential areas of Rio de Janeiro, will have 436 rooms, including 43 suites. The hotel, which will be the first Hyatt hotel in Rio de Janeiro and the second Hyatt hotel in Brazil, will also include three restaurants, an extensive spa and large and flexible meetings, events and convention space. The opening date for the hotel is expected to be during the third quarter of 2015, in time for the 2016 Olympic Games.
"The gratification resulting from this new project is twofold: first for the confidence placed in us by our client and second for being a part of a major project that will contribute to the change that Rio de Janeiro is going through for the upcoming 2016 Olympics," said José Manuel Albaladejo Cañedo-Argüelles, Vice President in charge of Latin America for Hill's Project Management Group.Hill International, with 3,600 employees in 110 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com . The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733 Certain statements contained in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information contained in this press release, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
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