Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY) announced that it has entered into a Memorandum of Understanding with Bless Business, Ponte Participacoes Ltda., Crevalcore Participacoes Ltda. and Guastala Participacoes Ltda. to develop a new Tulip Inn hotel in Belo Horizonte, capital of the state of Minas Gerais, which will be built by the Prisbel construction company. This operation is aligned with the Company's growth strategy, which includes the development of new hotels in large urban centers.
Located near the Administrative City of Minas Gerais, the future "Tulip Inn Linha Verde" hotel will be established in the Northern Vector, in the vicinity of the Venda Nova district, which is continuously growing due to heavy public and private investments. The area includes Linha Verde, a highway connecting downtown to the Confins Airport that has significantly improved traffic in Belo Horizonte. The Administrative City, designed by renowned architect Oscar Niemeyer and inaugurated in 2010, has high potential for increasing demand for hotels.
The new hotel's project envisages 120 to 140 rooms, restaurant infrastructure, conference rooms and leisure area. Scheduled to begin its operation in 2016, the hotel will be the first in the region.
With approximately 5,000 established companies, Venda Nova has consolidated its position as a business and service center, owing to the construction of malls, hospitals and clinics. The region also includes other important commercial developments, such as Shopping Estacao, the first big shopping center in the north region of Belo Horizonte; and Alphaville Vetor Norte, a residential condominium with 542 lots and around 2,710 residents. The civil works of Cristo Rei Catedral – designed by Niemeyer and other Linha Verde's highlight – have already begun, with total estimated cost of R$100 million.
"The strategic location of this hotel will be extremely important to our portfolio, being also complementary to other BHG's assets under development in the city, thus reinforcing our strategy of market consolidation in the short and medium term," said Eduardo Bartolomeo, CEO of BHG S.A. – Brazil Hospitality Group.
With this announcement, BHG has strengthened its presence in the state of Minas Gerais, with 6 hotels in its portfolio, totaling 1,231 rooms.[i]
[i] One hotel is operational—Tulip Inn Uberlandia, with 125 rooms—and 5 hotels are currently under development: Soft Inn Belo Horizonte (170 rooms), Golden Tulip Belo Horizonte (408 rooms), Tulip Inn Savassi (Belo Horizonte - 240 rooms), Tulip In Linha Verde (Belo Horizonte – 120 rooms) and Tulip Inn Sete Lagoas (168 rooms).
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