GTIS Partners, a real estate private equity firm, and GP Investments, an alternative investments firm in Latin America, have concluded a US$400 million take-private of Brazil-listed hotel operator Brazil Hospitality Group (BHG). The deal gave GTIS Partners an approximately 70 percent stake in the newly-private company, with the remainder of the shares owned by GP Investments. BHG owns and operates 52 hotels comprising 10,000 rooms, many of which are concentrated in São Paulo and Rio de Janeiro.