News Source: riotimesonline.com
The hotel has been steadily deteriorating since 2008 when, after 86 years of continuous activity, it was purchased by the property arm of Brazilian Eike Batistas EBX group for R$80 (US$20) million. Batista promptly closed the hotel and gutted the interior in order to realize his stated desire to restore the buildings “1920s charm” and simultaneously transform it into a world-class luxury facility.
News Source/Courtesy: riotimesonline.com
News Source: riotimesonline.com