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JLL Hotels, HIA Align Teams to Mine Brazil

SAO PAULO, BRAZIL-Jones Lang LaSalle Hotels takes over Hotel Investment Advisors for its new push, underwriting it with investors' requests and Brazil's investment-grade rating.

By Connie Gore | Updated on July 16, 2008

[IMGCAP(1)]SAO PAULO, BRAZIL-Jones Lang LaSalle Hotels has merged Hotel Investment Advisors, one of the Brazil’s leading consulting firms, into its operation as its inroad to an emerging market that’s now carrying investment-grade ratings by S&P and Fitch. The 25-year name, a mainstay in Brazil, will go away.

“It was a very comfortable fit on both sides,” says Arthur Adler, managing director and CEO-Americas of Chicago-based Jones Lang LaSalle Hotels. Leading the nine-member office will be Ricardo Mader Rodrigues as executive vice president, with his long-time partner, Manuela Gomi, at his side as senior vice president.

With the credit-rating boost, Rodrigues tells GlobeSt.com that Brazil is primed for investment, particularly development in the budget and middle-market arenas. “There are very few opportunities for acquisition,” he explains, adding that with development “you could almost go all over the country with budget and middle market.” Of the country’s 7,000 to 8,000 hotels, he says only 7% are affiliated with hotel brands and the lion’s share are family-owned, including many in Brazil’s gateway cities.

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