BHG signs deal to acquire Grupo Solare

26th January 2012 (Last Updated January 26th, 2012 18:30)

Brazil Hospitality Group (BHG) has agreed the acquisition of hotel management company Grupo Solare in Brazil.

Brazil Hospitality Group (BHG) has agreed the acquisition of hotel management company Grupo Solare in Brazil.

BHG, which will take over operations on 1 April 2012, will manage eight hotels with a total of 1,100 rooms. The company will maintain Solare’s structure and operational base, which will also be responsible for managing the hotels acquired in Belem do Para during 2011.

BHG CEO Pieter van Voorst Vader said the acquisition of Grupo Solare will enable the company to take up a strategic position in the Brazilian states of Para and Maranhao. With the acquisition, BHG now has 45 owned and managed hotels with 8,322 rooms distributed across 15 states and the Federal District, as well as 12 hotels under development.

The company will add 2,329 rooms to the network in the future, increasing the number of owned and managed rooms to about 10,700 by the end of 2014, BHG said. Grupo Solare currently manages seven hotels in Sao Luis, in the budget (Soft Inn), economy (Expresso XXI) and midscale (Solare Hoteis and Suites) categories, totalling 858 rooms. The group also manages the 242-room luxury hotel Gran Solare Lencois Resort in Barreirinhas.

In August 2011, BHG announced plans to acquire five new hotels in Belem, Brazil, from the MB Capital Group, adding 1,010 rooms to its portfolio of owned and managed rooms.