BHG Signs Management Agreement with New Soft Inn hotel in Goiania, Brazil
Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY) hereby announces the signature of a Memorandum of Understanding for the management of Soft Inn Mega Moda, a hotel that is being developed in Goiania. The new project will mark the debut of a new BHG brand in Goias: Soft Inn, an economic segment brand that offers quality at an excellent cost-benefit ratio.
Soft Inn Mega Moda will have 322 rooms and will be located at Rua 67-B, Setor Norte Ferroviario, in the city's new commercial area, the region surrounding Rua 44. The hotel will be an annex to Shopping Mega Moda, an affordable fashion shopping mall belonging to the Novo Mundo group.
Goiania is consolidating its position as a major regional metropolis. According to the Brazilian Institute of Geography and Statistics' 2010 census, of the country's 15 cities with more than one million inhabitants, Goiania is among the cities with the best urban infrastructure.
"Soft Inn Mega Moda is perfectly in line with BHG's strategy of expanding its geographic coverage, with presence inBrazil's main cities ," said BHG's CEOPieter J. F. van Voorst Vader.
Start-up is scheduled for the first half of 2014.
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.