Acron buys Rio’s Hotel Gloria for $82 million

Acron AG bought Rio de Janeiro’s iconic Hotel Glória, currently closed for renovations, from Eike Batista for 200 million reais (US$82 million).

After completion of the renovation, the hotel will have 353 guestrooms as well as restaurants, a theater, shopping areas, gym and swimming pool. The hotel is planned to reopen in 2015.

Acron said it is currently negotiating a management deal for the property, which first opened in 1922, with various hotel companies, including Four Seasons Hotels and Resorts, Toronoto.

“Gloria Hotel is a landmark of Rio de Janeiro. It fits well into our current property portfolio. It will be led by an internationally renowned operator,” said Kai Bender, Acron CEO.