SAO PAULO, July 3, 2012 /PRNewswire/ -- 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 hotel category.
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 hotels.
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 America.
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.
BHG S.A. - Brazil Hospitality Group
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SOURCE BHG S.A. - Brazil Hospitality Group