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Hotel Chain For Sale
Location: Brazil -> Brazil
Industry: Hotels and Holiday Accommodation > Hotels




Business Summary

The following network interface OTHON FOR SALE:
In 1943, successful businessman Othon Lynch Bezerra de Mello decided to take some of the profit from his textile and sugar mills, and invest it in building hotels. He set up the Companhia Brasileira de Novos Hoteis and in 1944 the first hotel, the Aeroporto Othon, opened in Rio de Janeiro to great acclaim. Seeing opportunity in the expanding industrial center of Sao Paulo, the second hotel, the Hotel Sao Paulo, opened in 1946.

A true visionary, Othon the huge potential in the Copacabana Beach area of Rio de Janeiro and, in 1949, built the Olinda Othon Hotel as well as buying up a further six plots of land along the sea front.

The 1950's was a period of expansion for the chain, with the introduction of more hotels along the Copacabana beach front, with a particular emphasis on large rooms and balconies overlooking the sea, and another hotel in Sao Paulo. In 1964 the Leme Othon Palace was the first hotel to capitalise on new legislation allowing the construction of buildings with more than 12 storeys along Copacabana Beach and, for many years, was the tallest building in Copacabana.

Wishing to expand into the five star market, Othon built the Rio Othon Palace, the Belo Horizonte Othon Palace and the Bahia Othon Palace during the late 1970's. These three flagship hotels effectively doubled the chain's room stock, making Othon the largest hotel chain in South America. The company soon began acquiring existing hotels and managing third party hotels, such as the Imperial Othon Palace in Fortaleza, thus increasing the chain's presence even further.

RIO-RIO PALACE OTHON
BAHIA OTHON PALACE, Salvador
BELO HORIZONTE OTHON-MINES
SAVOY PALACE OTHON-RIO
CALIFORNIA PALACE OTHON-RIO
LANCASTER OTHON-RIO PALACE
AIRPORT PALACE OTHON-RIO
RUDDER-RIO PALACE OTHON
OTHON PALACE-SP

Sale R $ 1,300,000,000.00 (one billion three hundred million Brazilian reais). Those interested, send all details and submission by e-mail.


Financials

Asking Price Range:  > $35.0M
Gross Revenues:   Seller Will Provide
Cash Flow:   Seller Will Provide
Cash Flow Type:  EBITDA
Seller Financing:  Not Disclosed

About The Business

Year Established:  1944
Number of Employees:  > 200
Relocatable:  No
Franchise:  No
Current Real Estate:  Owned
Property:  Property For Sale




Print Listing Id: 700180919
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Related Searches: Camping and Parks  >  Guest Houses, Bed and Breakfast  >  Holiday Resorts  >  Hotels  >  Motels  >  Other Hotels and Holiday Accommodation  > 

Also See: Franchise Opportunities > Franchise Resales > Business Brokers > Commercial Property For Sale > Commercial Property For Lease



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