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Brazil Hospitality Group announces first acquisition in the state of Mato Grosso

The Brazil Hospitality Group (BHG) Thursday announced the acquisition of Hotel Odara in Cuiaba, marking the group’s commencement of operations in the state of Mato Grosso. The hotel is currently rated as one of the country’s top hotels by the 4 Rodas Guide given its strategic location.

 

Pieter Jacobus Vader, BHG’s president, said the new investment acquisition comes as part of the group’s strategic plan that seeks investments in large urban areas, with a bias on business travel. With Cuiaba currently one of Brazil’s top agribusiness centers, on top of its proximity to some of Brazil’s major tourist destinations for example the Pantanal and Chapada dos Guimaraes, and its host status for the 2014 world cup to be held in the country, BHG hopes to increase its presence in the region considerably.

The acquired property is made up of 6,630m², 104 rooms, two conference rooms, two meeting rooms, a business center restaurant amongst other amenities, and the investment deal includes a 640m² parking lot the hotel might likely use for expansion. The property will fly the Golden Tulip flag, which has a 4-star standard. With the acquisition of this new hotel, BHG further strengthens its position as the country's third-largest hotel company.

 

The Brazil Hospitality Group is amongst the country’s biggest group hotels and manages 32 hotels, out of which 16 are the groups and the rest are managed for other investors. BHG begun from the merger of Invest Tur Brasil and Latin America Hotels (LAHotels) last year in February and had consolidated by end of year. BHG has another exclusive deal with Golden Tulip Hospitality Group in South America through its brand names, Royal Tulip and Tulip Inn.  In just 18 months of operations, LAHotels has become the third largest hotel company in Brazil.
BHG has for long been keen on investment opportunities in management, acquisition or the construction of hotels, particularly in Brazil’s major capital cities. The group’s acquisitions in 2009, December fomented its position as an equal amongst Brazil’s largest hotel chains.

 

The group made two investment acquisitions in December last year, taking up Hoteis Albert International, in Porto Alegre (Rio Grande do Sul) and the purchase of shares in the four-star Condominio do Edificio Beira Mar, in Salvador (Bahia). LAHotels aims at acquiring and managing hotels or companies that own hotel assets in Brazil and in other countries in Latin America. BHG (BHGR3) shares are traded on the Sao Paulo Stock Exchange (Bovespa).

 

7 July 2010.