South American hotel company to change name, expand to four- to five- star segment
The first upper-tier property to be opened and operated by Atlantica Hotels International is the 176-room Four Points by Sheraton in Brazil's southeastern city of Curitiba. The hotel was opened as an independent in March 2001 and will be rebranded Four Points by Sheraton immediately. Guest rooms feature television, three telephones, internet broadband connection and in-room electronic safes. The hotel also features nine meeting rooms, full-service business center, fitness center with indoor heated swimming pool and steam and sauna rooms, and a full-service restaurant featuring Italian and Mediterranean cuisine.
Situated southeast of São Paulo, Curitiba is regarded as one of Brazil's model cities. The well-organized, bustling city is home to 1.5 million Brazilians.
The Four Points by Sheraton in Curitiba is the first of 12 Sheraton Four Points Sheraton projects in Brazil planned by Atlantica Hotels International.
"The hospitality industry is one of the most dynamic
businesses there is, and we take seriously our obligation to quickly move in new directions in order to maximize the returns we deliver to our clients," said Paul J. Sistare, president and CEO of Atlantica Hotels International and architect of the company's new structure.
"By developing and operating top-performing multiple international brands across the market spectrum Atlantica Hotels International is also responding to the ever-changing needs of the increasing numbers of regional and international business travelers coming to Brazil."
Since its formation in 1998, Atlantica Hotels International is South America's first independent hospitality management company to operate multiple brands. Based in São Paulo, Atlantica Hotels International has more than $675 million in assets under management. The company presently operates 12 hotels and has 52 hotels under construction. The company is adding an average of two contracts per month and is opening one new hotel approximately every 20 days. While Atlantica Hotels International will continue hotel development and operation throughout South America, primary development efforts will be focused on the countries of Brazil, Argentina, Chile and Uruguay.
Chairman of the company is Gregory Ryan, a graduate of Cornell University's hospitality management program. Ryan is known throughout Brazil for his overwhelming success as the founder of McDonald's restaurants in that country. Shortly after Ryan joined the company, Nicholas Brady, former U.S. Secretary of the Treasury and architect of the "Brady Bonds," invested in the company through his Darby Overseas Investments fund. Mr. Brady presently serves as Vice Chairman of Atlantica Hotels International.
"In the U.S. and many other countries, the independent hotel-management company provides hotel owners with significant options to maximize their investments because their hotels are operated by professional, experienced hotel managers, and brands are carefully chosen to reflect the hotel's position in the marketplace," said Sistare. "Now for the first time, that option is available in South America too."
SOURCE: Atlantica Hotels International