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BHG Announces The Management Of New Hotel In The State Of Rio De Janeiro

SAO PAULO, July 4, 2013 /PRNewswire/ -- BHG S.A. - Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY) hereby announces that it signed a Memorandum of Understanding with Castelari Construtora Ltda. for the management of a hotel under development in Sao Joao do Meriti, state of Rio de Janeiro, one of Baixada Fluminense region's main municipalities, located in the Rio de Janeiro's metropolitan area.

Sao Joao do Meriti is bounded by Belford Roxo, Mesquita, Nilopolis, Nova Iguacu, Duque de Caxias and Rio de Janeiro, i.e., the region's main industrial axis. Large distribution centers are located in the municipality, such as of Pao de Acucar, Intercontinental supermarkets, and the Brasspress Encomendas, among others. In addition, the city's GDP had constant growth from 2006 to 2010, reaching a figure above the state and national average at the same period.

As the first mixed-use complex in the city, the hotel will have 264 rooms and includes a masterplan formed by one residential tower (228 units) and one commercial tower (216 rooms). Located at a few meters far from Presidente Dutra Highway, with easy access to Linha Vermelha and Avenida Brasil ( Rio de Janeiro) and in front of Grande Rio Shopping (considered the largest one in Baixada Fluminense region), the project also includes a restaurant for 184 clients and three  convention rooms for 282 people. 

The agreement will consolidate the Company's operations in the state of Rio de Janeiro, with five operating hotels and six under development. Rio de Janeiro is the second most important state in Brazil, with a GDP of R$408 billion (2010 data) and a compound annual growth rate above the country's average.

"We identified low supply and great demand for a hotel in the municipality, due to the manufacturers located along Via Dutra, between Nova Iguacu and Duque de Caxias, in addition to a great necessity of long-permanence stays, due to large projects developed by the manufacturers in the region," says Pieter J. F. van Voorst Vader, CEO of BHG S.A. - Brazil Hospitality Group.

The hotel will be managed under the Tulip Inn brand, for three-star hotels, and is expected to begin its operations in the first quarter of 2016.

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