SAO PAULO, July 5, 2012 -- BHG S.A. - Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY) hereby announces that it has entered into a Memorandum of Understanding with PDG for the management of a hotel project to be developed in Campos de Goytacazes, Rio de Janeiro state.
This will be the second project operated by BHG in the municipality: in
December 2010, the Company announced the construction of a 140-room
Tulip Inn hotel in the selected services standard under development in
the same city.
The MoU provides for the development of a 260-room hotel, with a
complete conference area, a parking lot and a fitness center, which is
expected to be inaugurated in early 2015. The project will be located
at Avenida Pelinca, one of the most prestigious areas of the city, near
downtown, and will receive the Golden Tulip brand, used in the 4-star
Campos dos Goytacazes is the biggest and largest city in the interior
of Rio de Janeiro. It is located by Petrobras's oil and natural gas
exploration complex, on the continental platform of the Campos Basin,
and is one of the regions where pre-salt wells are located.
According to the recent study disclosed by SISTEMA FIRJAN "Decisao Rio
2012-2014" (2012-2014 Rio Decision), the Rio de Janeiro state will
receive investments worth over R$211.5 billion in the following two
years in the oil and gas, shipbuilding, energy, steel and logistics
sectors. "Campos is one of the municipalities with the highest
potential for economic development, serving as a new logistics and
strategic center in Brazil. The new Golden Tulip will meet this growing
demand for business tourism, in synergy with the Tulip Inn to be built
in the municipality," affirms BHG's CEO Pieter J. F. van Voorst Vader.
With this agreement, BHG now has 22 projects under development, which
will add more than 4,400 rooms to the company's portfolio by 2015, 52%
more than the 8,400 rooms managed by the company in its current 46
BHG S.A. - Brazil Hospitality Group is one of the leading hotel
companies in Brazil, with its own and managed hotels in the 3, 4 and 5
star categories. It is responsible for the Golden Tulip brand in South
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, USA, under the ticker BZHGY.