The building where the Bahia Othon Palace Hotel operated, in the Ondina neighborhood, will be auctioned to pay the labor debts of the chain that owns the project. The minimum bid is just over R$82 million.
The information was released to iBahia this Wednesday (8) by Rymer Leilões, which is responsible for the procedures. The auction is scheduled for 12pm on December 5th.
Bidding will take place online, on the company’s website. Those interested in participating must register on the platform and demonstrate interest in the auction 48 hours in advance.
Last year, it was reported in the press that the construction company Moura Dubeux had purchased the project, however, in fact, this never happened.
In contact with iBahia, Rymer Leilões explained that the company, which owns a project next to the building, filed a priority request in court, with a series of studies.
It was based on this proposal that the initial value of the bids was stipulated. This way, if no one shows interest in the hotel, the facilities will be owned by the construction company at the minimum bid.
If there is a proposal that exceeds this value, the construction company can also choose whether or not to cover the offer (and the payment terms offered) at the end of the auction. If you don’t cover it, the building goes to the winner of the auction.
Othon Palace Salvador
An architectural icon of the city of Salvador, the building is located on Avenida Oceânica, a prime area of the capital of Bahia. The property is on the seafront, at the end of Salvador’s carnival circuit.
The hotel development consists of 2 blocks, with 301 housing units, spread over 11 floors in the central block and 3 floors in the lateral block.
The housing units called superior and luxury types have an average area of 35.00m² each, those of the luxury suite type have an average area of 47.00m², the executive suite type have an average area of 67.00m² and the presidential suite has an area of 167.00m².
The hotel closed in 2018 after the chain announced what it called at the time a structural overhaul. On the same occasion, the unit in Belo Horizonte also closed its doors. This building was auctioned by Rymer Leilões in 2021.