Tourism: Portugal’s Espírito Santo invests 50 million reais on refurbishing two hotels in Brazil

21 February 2008

Sao Paulo, Brazil, 21 Feb – Portuguese group Espírito Santo Turismo plans to invest 50 million reais on refurbishing its two hotels in Brazil, by 2011, a company official said in Sao Paulo Tuesday.

At a press conference, Miguel Rugeroni, executive president of Espírito Santo Turismo, said that the aim of the Portuguese group was to own a further four eco-resorts in the northeast of Brazil, over the next five years.

In Sao Paulo, the group recently leased the Mofarrej Hotel, with 230 rooms in the south of the city, which will be closed from 1 July for refurbishment. It is scheduled to reopen in January 2009.

According to Rugeroni his group had searched for a business opportunity in Sao Paulo for two years before leasing the Mofarrej for a 20-year period for an undisclosed sum.

The Tivoli São Paulo Jardins hotel located in one of the most high class areas of the city, in the financial heart of Sao Paulo where most of the large companies are located.

The Tivoli Ecoresort Praia do Forte hotel, on the nortehrn coast of the state of Bahia, which was bought by the group last year, will undergo a significant refurbishment program to give it a “taste of Brazil.”

The Ecoresort will also be furnished with a residential component, with the construction of 48 houses, with four rooms each, which will be sold for between 350,000 and 400,000 euros each.

Set up 75 years ago, the Tivoli chain currently ahs 12 high quality hotels in Portugal (Lisbon, Algarve, Porto, Madeira and Coimbra) and two in Brazil. (macauhub)