BR-X1041 : Business Travel Hotels Support Facility in Brazil

To build and operate up to nine Hyatt Place brand hotels in certain medium-size cities throughout Brazil, which share the characteristic of having become commercial or industrial hubs in recent years. Hyatt Place hotels are limited-service hotels catering mainly to business travelers and families. The purpose of building the hotels is to serve the need for higher quality business-hotel infrastructure in certain cities of Brazil, while preserving high standards of environmental sustainability and energy efficiency. The creation of an IDB program to finance the development of the hotels provides a long term support in an industry where long term financing is scarce.