Hotel Glória, one of Rio de Janeiro’s best known landmarks and the first luxury hotel ever built in Brazil, is headed towards a rebirth as the Gloria Palace. Purchased in 2008 by Eike Batista’s EBX the hotel was closed in October 2008 and is now undergoing the massive restoration and renovation which will precede its reopening, expected for the last quarter of 2011.

The owner is capitalizing on the international expertise and sourcing capabilities of The Parker Company’s USA Headquarters in Miami, FL. Doug Parker, President and CEO (TPC USA) stated, “With both Portugese and Spanish speaking staff we can identify and qualify not only international sources but all local and regional sources in order to maximize the benefit and opportunities to the client.”

The investment has been estimated at R$200 million (about US$114 million) and also aims at a revitalization of the area.