Hard Rock network should grow in the Coutry

The brazilian Venture Capital investments (VCI), which brought the Hard Rock brand to Brazil, captured $327 million KCM fund R of Singapore, in a bid to expand in the country the concept of shared ownership properties. The funds will be mainly used to complete work on two projects of the brand that are in the final stage in the country, one in Fortaleza (CE), and another on the island of the Sun (PR). Known worldwide, the Hard Rock has today 27 businesses in operation within its divisions of shows, events, Casino and hospitality – this is the most important. In addition to hotels, the network has a restaurant in Curitiba (PR) and another in Gramado (RS), as part of the 35 projects under construction in various countries. Mix of housing development and luxury shared ownership model is common in the United States and Europe. In Brazil, though it is practiced for several years, the system was only regulated in December. According to the President of the VCI, Samuel Sicchierolli, the Fortress had some R of $70 million units of the enterprise sold in the first four months. " With the new funding, we will be able to speed up expansion plans in Brazil, "said Sicchierolli, as long as the plan is to have seven projects in the country in the coming years, with six in the concept of timeshares, and a conventional hotel operated by mark on the city of São Paulo. The enterprises are sold in model units. Each one of them gives the owner the right to use the apartment for two weeks a year. In the case of Fortaleza, the unitary dimension of each one of the apartments 402 costs R $65000. The project is expected to deliver to 2020 and overall sales volume (PSV) estimated at R $1.3 billion. The dimensions of the project give the holder the possibility to use other network units around the world, free of charge. The operation of the enterprises is made by Hard Rock, including the furniture and decoration of the apartments, in addition to the appliances and clothes of bed, bath & beyond. /Reuters