BHG's Statement - Hotel Rio Palace Case
SAO PAULO, Feb. 6, 2013
SAO PAULO, Feb. 6, 2013 /PRNewswire/ -- "There was not any reversal in Hotel
Rio Palace's case. The third Vice Chairman of the State Appellate Court of
Rio de Janeiro only decided that an appeal by Accor must be submitted to the
Superior Court of Justice for analysis. Consequently, there will not be any
reversal until the Superior Court of Justice analyzes the appeal. The BHG
Groupbelieves there will be no reversal and that the Superior Court of
Justice will uphold the unanimous decision of the 4th Civil Chamber of the
State Appellate Court of Rio de Janeiro, which, supported by the Prosecution
Office's opinion, rejected the allegations of the Accor Group".
Fernanda Pannunzio, spokesperson of BHG S.A.- Brazil Hospitality Group
Who we are:
BHG S.A.- Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY), the
country's third largest hotel chain, is the first Brazilian company to operate
in the real estate segment specializing in business tourism hotels, with owned
and managed hotels in the 3-, 4- and 5-star categories.
The exclusive contract with the Golden Tulip Hospitality Group in South
America allows it to use the Royal Tulip (5-star), Golden Tulip (4-star) and
Tulip Inn (3-star) brands. BHG also has the Soft Inn brand, used for
limited-service 2-star hotels, which offer an attractive cost-benefit ratio
for business tourism.
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, United
States, under the ticker BZHGY. In September 2012, BHG announced the beginning
of a FIP- Private Equity Fund, with the purpose of investing in the
development of greenfield real estate projects in the domestic hotel sector,
in the midscale category. The development of greenfield hotels will be one of
the key growth drivers for BHG in the coming years.
BHG S.A.- Brazil Hospitality Group
11.3577.2302 / 11.99668.7249
SOURCE BHG S.A. - Brazil Hospitality Group
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