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  The Hotel Jaragua, Which Helped Usher International Travel to
Sao Paulo, Brazil  in the 1950's, Completes $17 million
Transformation to the 480-Room
Holiday Inn Select Jaragua


Renovation of Historic Building in Central Sao Paulo a Key Example
of the Global Re-Urbanization Trend

MIAMI - Jan. 21, 2004 -- InterContinental Hotels Group (IHG), the world's most global hotel company, today announced the opening of the Holiday Inn Select Jaragua in central Sao Paulo, the 23rd Holiday Inn property for IHG in Latin America, and the 8th in Brazil.

The property is the completely renovated Hotel Jaragua, the internationally-renowned hotel that helped usher international travel to Brazil's business capital in the 1950's. The $17 million project is part of a major global re-development trend that is transforming city-centers through urban renewal.

The 26-story hotel features 415 guest rooms and 127 suites, along with three floors of conventions and meeting space totaling almost 18,000 square feet, and a capacity for up to 2,800 people. The facilities also include a theatre/auditorium with seating for 370, 18 virtual offices, and VIP meeting rooms with seating of up to 50 people.

The Holiday Inn Select Jaragua melds the original glamour of the Hotel Jaragua, with the comfort and high quality of a Holiday Inn Select. The hotel has retained its original facade, as well as a number of the amenities for which the area was renowned in the 1950's, such as a 24-hour confectioner's shop.

The property will be the second-largest Holiday Inn in Latin America, the first to be part of a major re-urbanization project.

"Brazil is clearly the most active hotel environment in Latin America," says Alvaro Diago, Area President Latin America, InterContinental Hotels Group.

"And, the continued exponential growth of the mid-scale travel segment has nothing but upside potential for the Holiday Inn brand," he adds. "It is one of the world's most recognized and respected hotel brands, and properties like the Jaragua will continue to further awareness of Holiday Inn in Latin America."

The Holiday Inn Select Jaragua is owned by Grupo Sol Invest, one of Brazil's most respected organizations.

"We are extremely proud to be involved with Grupo Sol Invest," adds Diago. "They have painstakingly renovated the property, and it is once again one of Sao Paulo's jewels."

Equipped with all modern technological conveniences, the facilities include capabilities for simultaneous translations, as well as a state-of-the-art in-house broadcast capabilities through which guests can interactively participate in meetings from their guest rooms.

The property also counts on a full array of food and beverage outlets, including an international restaurant with seating for 600, coffee-shop, lobby-bar, and a fast food restaurant in the ground floor.

InterContinental Hotels Group PLC of the United Kingdom, owns, manages, leases or franchises, through various subsidiaries, more than 3,400 hotels and 530,000 guest rooms in nearly 100 countries and territories around the world.

InterContinental Hotels Group
Also See: Sol Meliá Reaches Agreement with the Minamo Corporation to Lease the Luxury Mofarrej Hotel - Sao Paulo, Previously run by Sheraton / Feb 2003

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