Largest Hotel & Tourism Investment Conference in Latin America Returns to Argentina Sept

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1 Largest Hotel & Tourism Investment Conference in Latin America Returns to Argentina Sept SAHIC Celebrates its 10 th Anniversary by Returning to Buenos Aires, where it held its 1st conference in 2007 Buenos Aires, August 2017 With great expectation, Latin America awaits for the coming up 2017 edition of SAHIC, the largest Hotel and Tourism Investment conference that each year gathers key players in the market, promoting business and real estate projects in the region. The 2017 meeting is expected to welcome more than 400 attendees from more than 30 countries, with a promising agenda that will feature, amongst others, Geoff Ballotti, President & CEO de Wyndham Worldwide; Bill Walshe, CEO of Viceroy, Sebastien Bazin, Chairman & CEO of Accor and David Sutton, President of Grupo Alvear. Our conference differs because it is the only one in the region that manages to bring together the highest levels of business for an educationally formatted event, says Arturo García Rosa, President of SAHIC. In these 10 years, we have toured nine cities, and it is a joy that this year s conference is in Argentina, a country that presents a more than favorable business climate The industry leaders recently shared some thoughts about their participation in SAHIC: The Latin American market is one of the fastest growing markets for hospitality and a priority for Viceroy Hotels and Resorts. I am thrilled to participate as a keynote for SAHIC in Argentina this year, especially with our forthcoming opening of Viceroy Buenos Aires in Madero Harbour, among additional openings planned in Cartagena, Panama, Chicago, Portugal, Serbia and Vietnam. said Bill Walshe. The Wyndham Hotel Group is honored to be part of SAHIC South America. Together with owners, franchisees, and key players in the market, we hope to create new opportunities for investments in Argentina and the rest of Latin America and the Caribbean, manifested Geoff Ballotti, President & CEO of Wyndham Hotel Group.

2 Sebastien Bazin commented We are celebrating 40 years in South America in 2017 with more than 300 hotels and 50,000 rooms and the confidence that the region has great potential for growth. Together with our partners, our aim is to expand the luxury segment in large urban centers and return to the leisure segment, seeking business opportunities in resorts and more touristy cities. The global acquisition including private residences, concierge services and luxury resorts will also strengthen South America s new opportunities. David Sutton, an Argentine hotel developer who has greatly invested in Argentina within recent years, is very enthusiastic about participating in his first ever SAHIC. Mr. Sutton is the owner of many symbolic properties such as the Alvear Palace Hotel in Buenos Aires, The Llao Llao in Patagonia, Argentina, and Alvear Icon in Puerto Madero as his most recent opening, a USD 60 million project. David Sutton s presence as a speaker has generated great expectations for the conference attendees. Why Argentina About choosing the European Capital in South America, Argentina, as the host for this edition, SAHIC s president, Arturo García Rosa commented: For various reasons, including its natural wealth, its culture and the quality of its human resources, Argentina has historically had the privilege of being eye catching to the investment community around the world. If we add to this a series of economic and political measures that are favorable for the completion of business and for the arrival of foreign investments - especially after the transcendent change of course since the inauguration of President Macri in December we have no doubt that this is a great destination for the meeting - once again - of the hotel leaders, developers and the most powerful investors in the industry. Gustavo Santos, Minister of Tourism in Argentina, enthusiastically welcomes SAHIC to his country: "In the first 5 months of 2017, we witnessed a 4.6% growth in regards to arrival of non-resident tourists (by air). Guillermo Dietrich, Minister of Transportation, also shared his insights regarding improvement in internal CONNECTIVITY, at regional and international levels. Without connectivity, says Dietrich, there is no TOURISM. In the first four months of 2017, Argentina experienced an increase of + 3.8% in overnight stays (678,000), 2.1% in rooms sold (177,000) and % in hosted tourists (781,000) according to data from the EOH- Survey of Hotel Occupation of the INDEC-Ministry of Tourism.

3 Pablo Giampieri, Undersecretary of Economic Development of the City of Buenos Aires, spoke about the opportunities opened by SAHIC's arrival to the city: "Hopefully, from this type of event, new investment projects will begin, not just hoteliers but we all have a lot to do and as a public sector we are determined to accompany all the projects that improve Buenos Aires and those who live in it. We know that Tourism is one of the engines of social and economic development and we have to build it together. " Gonzalo Robredo, President of the Tourism Authority of the City of Buenos Aires, commented: "Tourism is a sector that has a great future in the short- and long-term, as our projections show that within 5 years several hotels of all categories will be needed to meet a demand that will increase -- due to the great plan of aerial connectivity that is already under way. This implies that by 2018 there will be about 1,800 new air frequencies that will have capacity to transfer 138 thousand International tourists and increase the foreign tourist market by 7.5%.

4 A look into Argentina Today With a USD 586 billion GDP, Argentina is the third largest economy in Latin America, after Mexico and Brazil. The Human Development Index (HDI) is at.84, representing first place in Latin America and 40th at a global level. Literacy rate is 98% while only 7% of the population is college educated and there is a high level of English proficiency. In 2016 there were 5,500,000 tourist arrivals. Since January 2017, tourists receive tax returns for accommodation services. The Ministry of Transportation of the Nation announced in March 2017 the expansion of air transportation with an investment totaling USD 1 billion and through the granting of 135 new airline routes, which create 191 new domestic connections and 87 new international connections. In 2016 the national government, along with other officials, created agencies to promote investment and international trade in the country. International credit lines are available with the aim of stimulating the increase of competitive tourism. Working conditions and collective agreements for the whole country are regulated under the General Labor Contract Law which is supplemented by additional laws and statutes for specific activities. With a penetration of around 140% in 2016, Argentina has one of the most dynamic mobile communications markets in Latin America. The strengthening of agencies such as the Anticorruption Office and other efforts made to incorporate the country in the OECD - Organization for Economic Cooperation and Development - the power of the country has shown clear evidence of a search for greater transperency.

5 Buenos Aires, its main district and gateway to foreign investments High quality and living standards: Buenos Aries s NU HDI (.88) has a better ranking than countries such as Brazil, Chila, and Spain. Multicultural, flexible and skilled labor force: Ranks #1 in ability to speak English, has 40,000 international students, and has 217 graduates per 1,000 inhabitants. Extended economic growth and sustainable productive growth: Economic activity in Buenos Aires, measured in USD, doubled in 10 years from 2004 to Investments announced for an amount of USD 2 billion between 2016 and The cities government will invest USD 1.1 billion in infrastructure in Secure and competitive infrastructure: Better ranking than Washington DC in secure infrastructure in accordance with the Safe Cities Index Responsible Tax Policy: Public savings is equivalent to 14% of current income. 82% of the income comes from local taxes. 14 Top 30 Fortune 500 companies have chosen Buenos Aires to establish their operations. 12 of the 14 firms listed in the Dow Jones Industrial Index operate in Buenos Aires. Foreign location: Preferred location for 95% of international companies which look to start their businesses in Argentina and want access to Mercosur. Ranking # 1 in the category Sustainable City and Environment of Latin Ameirca. It is also ranked the number 1 city of Latin America, and 17th of the world, in the regards to the ICCA (Internation Congress and Convention Association. (*) Sources: Investment Promotion Agency and Foreign Trade Buenos Aires City, Ministry of Tourism of the Argentine Nation and Argentine Agency of Investment and International Trade About SAHIC SAHIC is the leading conference organizer for hotel and tourism investment in Latin America that promotes business and real estate projects in the region. SAHIC South America is an annual conference with its location rotating every year through different cities in South America. The 2017 SAHIC South America, scheduled for September 13-14, 2017, celebrates the Conference s 10 th Anniversary, returning to Buenos Aires, Argentina, where the conference held its inaugural event. Media Contacts: In South America: Laura Matta, Press & Communications, SAHIC Cuba, +54 (9 11) ; Direct: (11) ; lmatta@sahic.com; SKYPE: lau_matta In the United States: Leora Halpern Lanz, Principal, LHL Communications, Inc, , leora@lhlcommunications.com; SKYPE: LeoraLanz