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The Four Seasons chain announces its first unit in Rio, in Leblon, where the Marina Palace Hotel used to be.
Published on 09/12/2025 - 18:29 | Updated
The acquisition comes at a time of consistent recovery for the hotel sector in Rio de Janeiro. Art: Press Release The building that formerly housed the Hotel Marina Palace, on Avenida Delfim Moreira in Leblon (South Zone), an icon of Rio de Janeiro's hotel industry, will give way to the first hotel unit of the Canadian Four Seasons chain in the city, scheduled to open in 2029.
The investment management firm Catuaí Asset, through a private equity fund (FIP), has completed the acquisition of the property. Opened in the 1980s, the Hotel Marina Palace was operated by BHG – Brazil Hospitality Group until its closure in 2017. The transaction marks Catuaí Asset's debut in the hospitality sector and reinforces the firm's strategy of investing in ""trophy assets" – real estate Unique properties with high potential for appreciation. The total investment is estimated at R$ 600 million.
– The arrival of Four Seasons in Brazil, starting in Rio de Janeiro, is a milestone that celebrates our ability to attract major global investments. It is a source of pride to see the world's largest luxury hotel chain choose Rio, more specifically Leblon, as the location for its return to the country. And they will be establishing themselves on a coastline with one of the most beautiful landscapes in Rio. This move confirms what we know: when Rio follows its vocation, it boosts tourism, business, and development – stated Mayor Eduardo Paes.
The building will undergo extensive revitalization. The project includes a complete renovation of the facade, modernization of the interiors, and expansion of the existing structure. All rooms will have ocean views, in addition to featuring... rooftop Featuring a swimming pool, spa, gym, bars, and restaurants. During the peak of construction, it is expected to generate around 200 direct jobs. In the operational phase, the number could exceed 180 direct jobs, in addition to numerous indirect jobs.
This initiative reinforces Catuaí Asset's conviction in the potential of high-end hotels in Brazil. The combination of a strategic location, a prestigious international hotel brand, and an asset with unique characteristics positions the hotel as one of the most relevant projects in the sector in the coming years, with a positive impact on the city, its visitors, and the investors involved.
– The arrival of Four Seasons in Brazil, in a city like Rio de Janeiro, marks a significant move within Catuaí Asset's investment strategy in high-end assets. The local market has demonstrated increasing dynamism, driven by the growth of tourism, the expansion of high-quality developments, and the continued interest of international brands. The Hotel Marina presents characteristics that position it as a unique asset aligned with the profile of the projects we seek. We believe that this development will contribute to further consolidating Rio's role in the global hospitality landscape – stated Alfredo Khouri Jr., founding partner of Catuaí Asset.
The acquisition comes at a time of consistent recovery in the hotel sector in Rio de Janeiro. Market data, considering the 5-star hotel category, indicate growth of approximately 20% in the average daily rate (ADR) and 10% in the occupancy rate for the year 2025, compared to the same period of the previous year. Throughout the year, the number of tourists increased by 11,8% in the city, compared to the first ten months of last year. From January to October, Rio received 10,4 million tourists. The expansion of international tourism was the most significant: 51%. There were 1,77 million foreign visitors in the first ten months of the year, compared to 1,17 million in the same period of 2024. The data is from the Rio de Janeiro Tourism Observatory, of the Rio de Janeiro City Hall.
– The city is experiencing a special moment of growth in tourism. Besides its natural beauty, the major events and the increase in the number of national and international flights make Rio an extremely attractive destination. When companies of this size arrive, they are not just investing in a large hotel; they are telling the whole world that Rio is a place of trust, opportunity, and, of course, happiness – said the deputy mayor, Eduardo Cavaliere.
One factor enabling increased tourism in the city is the rise in passenger numbers at Tom Jobim International Airport. Up to October of this year, 14,5 million passengers passed through RIOgaleão, a 24% increase compared to the same period last year. The outlook for the end of 2025 is for a record number of passengers.
About Catuaí Asset
Founded in 2017, Catuaí Asset is an independent asset management firm focused on the real estate market, led by an experienced team. track record The pillars supporting Catuaí Asset's capital gain thesis are a deep understanding of real estate cycles, a long-term investment horizon, strong alignment with shareholders, consistent internal governance control, and a broad network of relationships. Since its founding, Catuaí Asset has acquired and divested over 90 assets through its dedicated funds and multi-strategy funds, including irreplaceable assets such as the Pátio Victor Malzoni and Leopoldo 1201 buildings. The adopted fundraising model involves participation from the Catuaí Group's own capital and from third parties, including large institutional investors. single and multi-family offices and distributors. Total assets under management, considering both active funds and completed strategies and investments, exceed R$ 1 billion.
About Four Seasons
Four Seasons opened its first hotel in 1961 and has since become a global leader in luxury hospitality. branded residencesWith a focus on genuine and unparalleled service experiences, Four Seasons currently operates 133 hotels and resorts and 58 residential properties in major urban centers and leisure destinations across 47 countries. The company continues to grow with a guest-centric mindset, including a global pipeline of more than 60 projects in planning or development. In addition to hotels and resorts, Four Seasons offers experiences including more than 600 restaurants and bars worldwide, the Four Seasons Private Jet Experience, the Four Seasons Drive Experience, and the future Four Seasons Yachts. Four Seasons consistently ranks among the world's best hotels, resorts, restaurants, and bars, and is recognized as one of the most prestigious luxury hospitality brands in reader polls, traveler reviews, and industry awards.
About BHG
BHG – Brazil Hospitality Group is one of the largest owners of hotel assets in Brazil, with stakes in approximately 10 properties located in strategic markets such as Rio de Janeiro, São Paulo, Recife, and Salvador. The company focuses its operations on the active management of these assets, with an emphasis on asset appreciation and operational efficiency, supported by specialized teams in asset management, engineering, and investment strategy.
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