BR Market Study to JKSC group Aug 08

1. BRAZIL : Air Transport and Hotels Markets This document was prepared to JCKS group Aug 2011

2. The Country Air Transportation Hotels Summary BRAZIL : Air Transport and Hotels Markets This document was prepared to JCKS group Jul 2011

3. The Market Brazil has 5630 hotels offering 269.866 rooms and 570.527 Beds. The Southwest regions responds for the largest share; 32% Hotels 37% Rooms capacity Source: Tourism Secretary The Country Air Transportation Hotels North Northwest Southwest South Center East

4. The Market 40% of the total sales comes from top medium size hotels chains. The independents and Multinational with few units Respond for 60 % Source: Abracorp Occupancy Level 72% Average Rate R$ 191 Fohb Members: May11 The Country Air Transportation Hotels

5. The Market Economy and Super - economy are the categories that Have the largest share and will continue responding for in the future. These categories do not use GDS for Distribution and do not pay commission To Travel Agencies Source BSH Travel Search % The Country Air Transportation Hotels

6. % The Market Above are the projections for to 2014 related room nights and respective occupancy level. The projections are that occupancy level will remain high even after World Cup 2014. São Paulo 84% Rio de Janeiro 85% Porto Alegre 79% Source :FSP The Country Air Transportation Hotels

7. Sales Ranking Sales Statistics 2010 From 30 top TMC in Brazil Source : ABRACORP The Country Air Transportation Hotels HOTEL R$ - Valores em Milhares % ACCOR 101.778 9,94% ATLANTICA 94.978 9,27% BLUE TREE 33.930 3,31% BOURBON 13.677 1,34% INTERCITY 14.849 1,45% SOL MELIÁ 17.651 1,72% POSADAS 19.748 1,93% TRANSAMÉRICA 21.045 2,06% WINDSOR 28.206 2,75% OUTROS HOTÉIS 678.186 66,23% TOTAL 1.024.052 100%

8. Sales Ranking Sales Statistics 2010 From 30 top TMC in Brazil Source : ABRACORP The Country Air Transportation Hotels REDE DE HOTÉIS R$ - Valores em Milhares % DAS VENDAS ROOM NIGHTS % ROOM NIGHTS Accor 101.778 9,94 563.039 10,72% Atlantica 94.978 9,27 495.193 9,43% Blue Tree 33.930 3,31 177.101 3,37% Bourbon 13.677 1,34 75.825 1,44% Intercity 14.849 1,45 91.635 1,74% Sol Meliá 17.651 1,72 83.799 1,60% Posadas 19.748 1,93 74.122 1,41% Transamérica 21.045 2,06 95.564 1,82% Windsor 28.206 2,75 130.073 2,48% Outros Hotéis 678.186 66,23 3.465.248 65,99% TOTAL 1.024.052 100% 5.251.599 100,00%

9. Sales Statistics 2010 From 30 top TMC in Brazil Source; ABRACORP The Country Air Transportation Hotels Hotels Chains ROOM NIGHTS % ROOM NIGHTS Accor 563.039 25,56% Arco 7.665 0,35% Atlantica 495.193 22,48% Átrio 245 0,01% Bourbon 75.825 3,44% Bristol 44.607 2,02% Bristol Hotelaria 27.015 1,23% Chambertin 32.902 1,49% Club Med 3.204 0,15% Deville 54.213 2,46% Estanplaza 41.443 1,88% GJP 454 0,02% Hotelaria Brasil 17.342 0,79%

10. Sales Statistics 2010 From 30 top TMC in Brazil Source; ABRACORP The Country Air Transportation Hotels HOTELS CHAINS ROOM NIGHTS % ROOM NIGHTS IHG 33.795 1,53% Intercity 91.635 4,16% Othon 54.886 2,49% Pestana 40.655 1,85% Plaza Inn 15.501 0,70% Posadas 74.122 3,36% Promenade 62.960 2,86% Slaviero 41.659 1,89% Sol Meliá 83.799 3,80% Transamérica 95.564 4,34% Travel Inn 14.618 0,66% Vila Rica 7.031 0,32% TOTAL 2.202.846 100%

11. Top Sellers in Brazil CVC - Largest Tour Operator Trend - Consolidator TMC - 30 Business Travel Agencies Decolar Submarino Tech Providers CM SABRE AMADEUS TRAVEL CLICK The Country Air Transportation Hotels

12. THANK YOU The Country Air Transportation Hotels