Bass Hotels & Resorts -BHR- Expands Latin America Portfolio

Beyond the soon-to-open properties, BHR's aggressive ongoing expansion goals in Central and South America include doubling the company's portfolio in the region within the next five years.

"Our strategy is to establish a presence in every major capital and financial center in Latin America, as well as rapidly expanding into key gateway and secondary cities," says Thomas Arasi, President, Bass Hotels & Resorts, The Americas. "With five recognized and highly respected brands, particularly Inter-Continental's long history as the upscale brand leader in the region, we have been able to position BHR as the leading international hotel company in Latin America."

Brazil and Argentina are experiencing the most dramatic percentage growth in properties, with five new Holiday Inn hotels opening in each of those countries during the fiscal year.

Brazil will also house the region's first Staybridge Suites by Holiday Inn extended stay product, with the recent groundbreaking in Sao Paulo of a 356-suite, 18-story property which will be the centerpiece of a $150 million mixed-use complex with Bass Hotel & Resorts' Brazilian partner Brascan Imobiliaria. That property is scheduled to open in mid-2002.

A second 100-suite Staybridge Suites is planned for Brasilia (the capital of Brazil), in conjunction with Brascan, as part of another mixed-use development which will also house a 250-room Inter-Continental hotel.

"Ours is a long-term view of the region," adds Alvaro Diago, Area President, Latin America, Bass Hotels & Resorts. "The long-term economic outlook, particularly from intra-regional travel, is excellent. In countries like Brazil, where travelers can access air travel with the same ease as the renowned air-bridges in the Northeast U.S., the growth potential is even more compelling, especially for our mid-market Holiday Inn brand."

The company's multiple brand strategy allows it to meet the needs of both the traditional long-haul frequent international traveler, as well as the fast-growing regional travel.

Roger Titley, Vice President, Development & Asset Management, Latin America, Bass Hotels & Resorts states, "The expansion strategy will also solidify existing regional hotel clusters, a component of BHR's 'hub and spoke' distribution growth strategy."

For example, the opening of three new Inter-Continental hotels in Central America (Tegucigalpa, Managua and Guatemala City), will further solidify Bass Hotels & Resorts' position as the leading multi-branded hotel company in Central America, boasting properties in every major capital in that region.

"The opportunity to cluster or complex Bass-branded properties in a region creates opportunities for revenue enhancing and cost saving synergies that work to the benefit of each hotel. These include synergies in the areas of human resources and training, marketing and sales, public relations and purchasing, among others," added Titley.

The growth in Central and South America is one component of Bass Hotels & Resorts' (BHR) overall Americas growth strategy. The company has recently announced a master franchise agreement with Hoteles Presidente of Mexico to expand BHR's upscale properties under the Crowne Plaza brand name within Mexico.

It has also entered into a definitive merger agreement in which Bass PLC, parent company of Bass Hotels & Resorts, will acquire Dallas-based Bristol Hotels & Resorts at a price of $9.50 per share, pursuant to a tender offer.

"These recent announcements secure Bass Hotels & Resorts' position as Latin America's pre-eminent hotel company, offering the most diverse portfolio of brand options and locations in the region," concludes Arasi.

Holiday Inn Express Puerto Madero (Buenos Aires)
Holiday Inn Cordoba

Holiday Inn Fortaleza
Holiday Inn Porto Alegre
Holiday Inn Taj Mahal Manaus

Camino Real Inter-Continental Tegucigalpa
Holiday Inn San Pedro Sula

Holiday Inn Select Managua

Holiday Inn Hotel & Suites Panama

Holiday Inn Select Abasto (Buenos Aires)
Holiday Inn Rosario
Holiday Inn Express Tucuman

Holiday Inn Express Curitiba

Hotel Las Lomas Crowne Plaza (Rio Negro)

Hotel Inter-Continental Guatemala City

Crowne Plaza Tegucigalpa

Plaza Real Inter-Continental Managua