Dec 12, 2012

• Hilton and Grand Hyatt Hotels will be built in Barra da Tijuca, on Rio’s west side, which will add 734 rooms to accommodation offered in the city

The BNDES has approved R$ 417 million in financing to build two new hotels in Rio de Janeiro. The projects will be financed through the BNDES ProCopa Tourism Program, a program aimed at expanding and modernizing the national hotel sector.

Of the total amount approved, some R$ 118.5 million will be earmarked for Carvalho Hosken Hotelaria LTDA., responsible for building the Hilton Barra. The remaining R$ 298.5 million will be earmarked for Rio JV Partners Participações LTDA., a company of the Hyatt Group which will build the Grand Hyatt Barra.

Both projects will create some 2,580 direct and indirect jobs, considering the stages of civil works and operational hotels. Both loans also require companies to carry out a social project, totaling R$ 2.1 million.
With inauguration set for 2015, both projects contribute to enlarging the hotel sector for the 2016 Olympic Games since they are located in the fastest growing region in the city and in the most important neighborhood for the competition, which will host the majority of modalities and the Olympic Village itself.

Hilton Barra – The hotel will be upscale, with 298 apartments, restaurants, fitness rooms, business centers and parking lots. The BNDES’ financing accounts for 71% of the project’s total investment, which was structured to meet the certification criteria set forth in the Sustainability Management System for Accommodation.

The hotel will be built next to the Metropolitano Shopping Mall — which is also under construction in Barra da Tijuca — and near facilities such as the Olympic Park and Olympic Village. During construction, some 458 direct jobs and 89 indirect jobs are expected to be created. Once operational, some 196 direct jobs and 98 indirect jobs are slated to be created.

Of the total financing approved by the BNDES, R$ 600,000 will be aimed at creating a Professional Training and Specialization Center for Civil Works, to be maintained by Carvalho Hosken Hotelaria and its partners. The aim is to provide free training and specialization classes for construction workers in the entire production chain in the civil construction industry.

Grand Hyatt – Conceived as a service resort, with 436 apartments and top quality standard, the project will be located between Avenida Lucio Costa (on the shore of Barra beach) and Marapendi Lagoon. The architectural project provides views of both.
The BNDES’ financing accounts for 57% of the total investment in the project, which will be the group’s first in Rio. During the pre-operational phase, some 200 direct jobs and 440 indirect jobs will be created. After the completion, up to 785 direct jobs and 313 indirect jobs are estimated to be created.

Of the total amount financed, some R$ 1.5 million will be earmarked for social projects developed by the nonprofit organizations Alfasol and Roda Viva, of which half is for each.

For 16 years, Alfasol has provided professional training for youths and adults, and has received awards from Unesco, Cepal and the UN.

Roda Viva, in its turn, develops the program The community building the future, which seeks to provide full-day schooling to socially-disadvantaged children and adolescents.