In Brazil, the Hyatt Place brand expands.

The hotel chain announced today that it would collaborate with developer FSA Group to construct nine Hyatt Place hotels in Brazil. doha property

The hotels will have 150 to 200 rooms and be located in metropolitan, suburban, and airport settings, according to the chain.

"This joint venture represents the next step of Hyatt's growth in Latin America," said Pat McCudden, senior vice president, Latin America and Caribbean real estate and development.

Hyatt Place is Hyatt's brand in the "upscale select service" segment, where hotels traditionally offer less facilities. It was launched in 2006. In late 2012, Hyatt opened the first Hyatt Place in Latin America in San Jose, Costa Rica. This year, Hyatt Place hotels will open in Mexico, Panama, and Chile.

"The select service segment is substantially underserved in Latin America," Mr. McCudden said. "We believe that by tailoring the design and amenities specifically for the Latin American market, the Hyatt Place brand will be equally popular in Brazil and throughout the country," says the company.

The Libra Group, the conglomerate owned by the Logothetis family, owns FSA. According to Hyatt, FSA Group will oversee and organize the construction of the nine Hyatt Place hotels. The hotels will be managed by Hyatt.

In 2016, the first Hyatt Place hotels in Brazil will open.

 

With a $1 billion deal, Blackstone expands in Brazil.

The Blackstone Group has agreed to purchase a majority interest in Gafisa's high-end residential subsidiary for $1 billion.

According to the Financial Times, the New York-based investment company will be a majority investor in Alphaville Urbanismo, a gated community developer, with its Brazilian partner, Pátria Investimentos. Blackstone purchased Pátria in 2010 and now owns a 40% stake in the firm.

The partnership's first venture in Brazil, and Blackstone's largest in the country. The size of Alphaville's stake was not revealed.

According to the Financial Times, selling Alphaville, a profitable unit, would provide a much-needed cash boost for Gafisa, which is struggling with high debt.

According to the paper, Gafisa recently posted a R$55 million ($27.2 million) first-quarter net loss for 2013, and its stock price has been declining since early 2011.

Recently, Blackstone has been very involved. After assisting General Growth Properties in its recovery from bankruptcy, the company sold its interests in the second largest mall owner in the United States. As part of its global expansion strategy, the American private equity company unveiled plans to raise a $4 billion fund dedicated solely to Asia.

According to the company website, Blackstone, the world's largest real estate private equity firm with $60 billion in assets under management, searches for income-producing assets at a discount to replacement costs.

According to the Financial Times, the company spent $4.5 billion in international property in 2012.