MIAMI — Hotel operator InterContinental Hotels Group PLC said Friday it signed deals with several developers to build four new hotels in Brazil by the end of next year.
InterContinental to Build Brazil Hotels
The hotels will be located in Manaus, Natal, Foz do Iguacu and Aparecida do Norte.
The 12-floor Holiday Inn Manaus will contain 240 rooms, a business center, meeting rooms, gymnasium and restaurant. The property will be owned and developed by Ypua Empreendimentos Imobiliarios and managed by InterContinental's Hotel Management Group.
The four-story Holiday Inn Express Foz do Iguacu will be owned by LN Empreendimentos Imobiliarios under a license agreement with an InterContinental company. The hotel will have 126 rooms.
The 13-floor Holiday Inn Express Aparecida do Norte-Santuario Nacional will have 126 rooms, two meeting rooms, a business center and fitness center. The property will be developed and owned by Hamam Hoteis e Incorporacoes, under a license agreement with an InterContinental business.
The 13-floor Holiday Inn Express Natal will have 160 rooms, a business center and fitness center. It will be owned by Praiamar Empreendimentos Turisticos Ltda under a license agreement with an InterContinental company.
Shares of InterContinental Hotels Group dropped 40 cents to $24.94 in afternoon trading.
