NOTICE TO THE MARKET

Procedures regarding the acquisition of Hotel Rio Palace, in Rio de Janeiro - RJ

BHG S.A. - Brazil Hospitality Group ("BHG" or "Company"), in line with best corporate governance practices, hereby informs its shareholders and the market in general that, on January 9, 2012, the Company filed an interlocutory appeal with the 4th Civil Chamber of the State Appellate Court of Rio de Janeiro to appeal the decision on Nova Riotel's alleged right of preference.

The Company believes it has strong arguments in its favor, including the support of reports from renowned legal experts in the domestic scenario and manifestations by the Public Prosecutor's Office against the right of preference alleged by Nova Riotel on a number of opportunities throughout the process. We will continue to take all the necessary measures to appeal the decision that recognized Nova Riotel's supposed right of preference and ensure that the validity and legitimacy of the Hotel's acquisition by BHG is confirmed.

Rio de Janeiro, January 10, 2012

Ricardo Levy
Investor Relations Officer
BHG S.A. - BRAZIL HOSPITALITY GROUP

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