BHG maintains rate of expansion and announces entry into the interior of Sao Paulo state
Company announces the operation of a Golden Tulip unit in Sao Jose dos Campos
BHG S.A. - Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY ) hereby communicates the signing of a Memorandum of Understanding (MOU) for the management of a hotel in Sao Jose dos Campos, in the interior ofSao Paulostate. The project is under construction and is scheduled to open during the fourth quarter of 2013.
The futureGolden Tulip Colinaswill be attached to the Shopping Colinas mall, in one of the most privileged areas of the municipality, with easy access to Presidente Dutra Highway (BR-116).
Sao Jose dos Campos is located betweenBrazil's two largest cities -Sao Pauloand Rio de Janeiro - and is near the northern coast ofSao Paulostate and the Serra da Mantiqueira region. The municipality is home to companies operating in the aerospace, telecommunications and automotive industries. It is the site of major scientific research institutes inBrazil, such as the Technological Institute of Aeronautics (ITA), the National Institute of Space Research (INPE) and the Department of Aerospace Science and Technology (DCTA).
"BHG announces its first project in the interior ofSao Paulostate, in one of the most important municipalities in the country, where there is a growing demand for business tourism. Sao Jose dos Campos is a center for the region's consumers and a hub for aeronautical technologies. The municipality is home to some of the country's largest companies, including Embraer, Petrobras – which operates the Henrique Lage Refinery (REVAP) - and General Motors," explainsPieter J. F. van Voorst Vader, the CEO of BHG S.A. - Brazil Hospitality Group.
The new hotel project includes 126 rooms, a ballroom and convention hall, conference rooms and an auditorium, bars and a restaurant. With the management of this hotel, BHG has a total of 22 projects in development, which will add approximately 4,300 rooms to the Company's portfolio by 2015.
About BHG
Brazil Hospitality Group, the country's third largest hotel chain, is the first Brazilian company to operate in the real estate segment specializing in business tourism hotels. BHG is a publicly-held company with shares traded on the Novo Mercado segment of the BM&FBovespa under the ticker BHGR3, and a Level I ADR program for trading its shares on the over-the-counter (OTC) market in New York, United States, under the ticker BZHGY. In September 2012, BHG announced the beginning of a Fundo de Investimento em Participações (FIP) [Private Equity Fund], with the purpose of investing in the development of greenfield real estate projects in the domestic hotel sector, in the midscale category. The development of greenfield hotels will be one of the key growth drivers for BHG in the coming years.