Extended Stay Product New Milestone in Ongoing Aggressive Expansion in Latin America
Press Release
October 15, 1999
MIAMI, FL -- Bass Hotels & Resorts (BHR) will be adding a Staybridge Suites by Holiday Inn to its 50-hotel
brand portfolio mix in Latin America, with the construction of its first extended stay product in the region.
Staybridge Suites Hotel at Brascan Century Plaza will be located in Sao Paulo, Brazil, and will complement Bass
Hotel & Resorts' existing Latin America portfolio of Inter-Continental, Crowne Plaza and Holiday Inn hotels.
The 356-suite, 18-story property, scheduled to open in mid-2002, will be the centerpiece of a $150 million mixed-use
complex with Bass Hotel & Resorts' Brazilian partner Brascan Imobiliaria. The project will include two office
towers, urban retail, cinema, and parking for 1,300 cars.
One-hundred year-old Brascan Imobiliaria is one of Latin America's most recognized and prominent development companies.
The Staybridge Suites Hotel at Brascan Century Plaza will also include a bistro style restaurant and bar, and will
have access to the center's convention center and fitness club.
``This is another major milestone in our ongoing expansion in Latin America,'' said Thomas Arasi, president, Bass
Hotels & Resorts, The Americas. ``We anticipate strong growth within the mid-market and extended-stay products
in countries like Brazil. This project allows the company to position itself as a leader in the area. Furthermore,
we are gratified to be extending our valuable relationship with our close partner - Brascan.''
Bass Hotels & Resorts already has a long-term relationship with Brascan, as its operator and partner of Inter-Continentals
in Rio de Janeiro and Sao Paulo. Bass Hotels & Resorts' Brazilian portfolio also includes a Crowne Plaza in
Sao Paulo, existing Holiday Inns in Fortaleza, Recife and Porto Allegre.
``The location of the Staybridge Suites Hotel at Brascan Century Plaza is ideal for an extended stay product,''
added Alvaro Diago, area president, Bass Hotels & Resorts, Latin America. ``Guests will not only benefit from
the property's amenities, but will have access to a mixed-use complex that includes retail, food & beverage
outlets, movie theaters and much more.''
Bass Hotels & Resorts is in the midst of an aggressive expansion campaign in Latin America. Already the world's
most global hotel company, with more than 2,700 properties in more than 90 countries and territories, Bass Hotels
& Resorts has recently made announcements of the following openings, or soon-to-open Latin American properties:
-- Holiday Inn, Fortaleza, Brazil
-- Holiday Inn, Recife, Brazil
-- Holiday Inn, Porto Allegre, Brazil
-- Holiday Inn, Cordoba, Argentina
-- Holiday Inn, Buenos Aires, Argentina
-- Inter-Continental, Tegucigalpa, Honduras (opening 12/99)
-- Inter-Continental, Managua, Nicaragua (opening mid-2000)
-- Inter-Continental, Guatemala City, Guatemala (opening mid-2000)
-- Crowne Plaza, Santiago, Dominican Republic (opening late-2002)
-- Crowne Plaza, Tegucigalpa, Honduras (opening early-2000)
-- Crowne Plaza, Santacruz, Bolivia (opening early-2000)
Bass Hotels & Resorts(SM), the hotel business of Bass PLC of the United Kingdom, operates or franchises more
than 2,700 and 450,000 guest rooms in more than 90 countries and territories.
The following service marks are owned by Bass Hotels & Resorts Inc., its subsidiaries or affiliates: Holiday
Inn®, Crowne Plaza®, Holiday Inn Express®, Holiday Inn Select®, Holiday Inn Garden Court(SM), Holiday
Inn SunSpree® Resorts, Staybridge Suites(SM) by Holiday Inn, Holidex®, Holidome®, Priority Club®
Worldwide, e.space®, Inter-Continental®, Forum®, Six Continents Club®, Corporate Rate Portfolio®
and Global Partner Hotels and Resorts®.
Bass Hotels & Resorts offers information and reservations capability on its pages on the World Wide Web of
the Internet - www.holiday-inn.com for Holiday Inn hotels, www.hiexpress.com
for Holiday Inn Express hotels, www.crowneplaza.com for Crowne Plaza Hotels
and Resorts, www.interconti.com for Inter-Continental Hotels and Resorts,
and www.staybridge.com for Staybridge Suites by Holiday Inn.
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Contact:
Bass Hotels & Resorts, Atlanta
Jennifer Ploszaj, 770/604-5912
Jennifer.Ploszaj@basshotels.com
or
Kreps/DeMaria, Miami
Israel Kreps, 305/663-3543
ikreps@krepspr.com