BHG sells LA HOTELS to Golden Tulip Brasil

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BHG sells LA HOTELS to Golden Tulip Brasil
Alexandre Solleiro, BHG
Thu December 13, 2018

Brazil Hospitality Group announces that it has completed the sale of LA HOTELS to Golden Tulip Brasil Hotelaria Ltda, a Louvre Hotels Group company that operates the Royal Tulip, Golden Tulip and Tulip Inn brands, among others


BHG - Brazil Hospitality Group (BHG) announces, together with its shareholders - funds managed by GTIS Partners, that it has completed the sale of 100% of the shares held by its hotel operator - LA Hotels Empreendimentos 1 Ltda ( LA HOTELS) - for Golden Tulip Brasil Hotelaria Ltda, a company of the Louvre Hotels Group (LOUVRE), which operates more than 2,600 hotels in 54 countries, owning the Royal Tulip, Golden Tulip and Tulip Inn brands, among others.

With the conclusion of this business, BHG leaves the activity of operator of hotels, concentrating on the valuation of its portfolio of hotel real estate assets. BHG is currently the largest owner of hotel real estate assets in Brazil, with majority and minority interests in 27 hotels - 10 in Rio de Janeiro, 3 in São Paulo, 4 in Curitiba and Porto Alegre, and 10 in the North / Northeast and Central West regions , now all operated by the world's largest hotel companies.

Its portfolio, which includes economy, medium and high standard hotels, and luxury, has been progressively renovated and repositioned until the end of 2020, operating under the brands ibis, ibis Styles, ibis Budget, Mercure, Novotel, Mama Shelter, MGallery, Pullman, Tulip Inn and Golden Tulip.

"With this business we have completed an important step in the strategic repositioning of BHG, focusing now on the resources and teams for valuing our assets, seeking new opportunities that will allow us to consolidate our position as the largest owner of hotel assets in Brazil," says Alexandre Solleiro , CEO of BHG.

Josh Pristaw, Senior Managing Director, co-Head for Brazil and Head for the capital market of GTIS Partners, reiterates that "this transaction represents an important milestone in the strategic plan for creating value at BHG, which has a Brazilian portfolio in the unparalleled, high-quality hotel real estate, from capital investments and repositioning, "says the executive.

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