After selling CVC to Carlyle in 2010 and Webjet to Gol the following year, businessman Guilherme Paulus announced today the sale of his hotel chain, GJP Hotels & Resorts. The hotel group becomes fully “a Private Equity vehicle, managed by R Capital, a company that operates in the capital market, especially in the real estate and credit sectors”.
According to a statement, the transaction is still subject to “precedent conditions and formal processes”, and should be completed within 120 days.
Founded in 2005 by Guilherme Paulus, GJP is one of the largest hotel chains in Brazil, formed by the Wish, Prodigy, Linx and Marupiara brands and comprising nine own hotels and more than 3,000 rooms, in addition to event centers, business infrastructure and leisure. The brands are likely to continue, but the group will likely gain a new name as it bears its founder’s initials.
The Saint Andrews Castle, in Gramado (RS), the residential in Foz do Iguaçu (Village Iguaçu Golf Residence) and the golf course in Foz, also belonging to Guilherme Paulus, were not part of the negotiation. The value of the deal was not revealed, but the market speaks of a few hundred million reais, due to the network’s assets, which include land and properties by the sea, all of high standard and with recent renovations. The market estimates that the deal is close to R$1 billion, which would place the sale as the largest ever in the leisure hotel market in Brazil
Since its foundation, GJP has always invested heavily in the expansion of its network, processes and continuous development of its employees, in order to provide quality and excellent services, providing its customers with the best experience in hospitality and leisure. This strategy has allowed the group to be consolidated as one of the largest and best leisure and airport hotel chains in Brazil. Last year, due to the implementation of protocols for covid-19, the GJP entered into a partnership with Sírio Libanês, launching a program recognized as one of the most complete programs for preventing and combating the virus.
AR Capital should keep the GJP board, including the president Fábio Godinho, but the Paulus family leaves the business completely.