SÃO PAULO— Atlantica Hotels International completed a major growth push in December 2001 by adding nine hotels to its rapidly growing portfolio. The company opened five new hotels and assumed management of four existing hotels in December representing a total of 2,376 rooms. All the hotels are located in Brazil. The rapid growth will continue into 2002 with five hotel openings representing 895 rooms planned for the first 90 days. New hotels added in December include: the 220-room Radisson Faria Lima São Paulo; the108-room Comfort Suites Belevedere, Belo Horizonte; the 360-room Quality Hotel & Suites – Lakeside, Brasília; the 236-room Comfort Hotel Fortaleza, Fortaleza; the 180-room Quality Suites Vilha Velha, state of Espirto Santos. The independent hotels are expected to convert to an international franchise flag exclusively offered by Atlantica Hotels International in Brazil, according to Paul J. Sistare, president/CEO of Atlantica. The conversions are expected to take place by the end of the second quarter 2002. In 2001, Atlantica tripled its size over the previous year. The company presently has presently has 26 hotels with 4,238 rooms under management, representing a total of US$780 million in assets. The company is projected to almost double in size again in 2002 with 22 hotels – representing 3,699 rooms – scheduled to open.
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