After six years of consecutive losses the Banco do Brasil sponsored pension fund Previ has agreed to sell the Costa do Sauipe (Bahia) resort to the Jamaican hotels chain SuperClubs, allied with foreign investment funds. The details of the deal are being tackled by the lawyers firm Machado, Meyer Sendacz & Opice and market sources estimate the assets to be worth around R$200mil. Costa do Sauipe has absorbed investments of R$1bil since its construction in 1997; dedicated 2002 the resort has five hotels with 1,400 flats and six hostels. Sofitel and Marriott managed four of these hotels but their contracts ended in 2007 and 2008, while SuperClubs managed one of these hotels. The hostels are managed by Pestana group under a long term contract.
(SABI - Business News 17.09.2008)