French entrepreneur Alexandre Allard's R$ 335 million debt to Banco Master is set to begin expiring next week, with implications for his stake in the luxury Rosewood hotel in São Paulo.
French businessman Alexandre Allard faces a R$ 335 million debt that will start becoming due on Wednesday, February 18. Allard is a partner in the Chinese company Chow Tai Fook Enterprises (CTF) and is linked to BM Empreendimentos, the controlling entity of the prestigious six-star Rosewood hotel located in São Paulo's Cidade Matarazzo complex. The loan was secured from Banco Master, an institution linked to businessman Daniel Vorcaro, in January 2024 and is set to be paid in 36 monthly installments, with the first payment due soon.
The terms of the loan include a significant interest rate of CDI + 10% per annum, raising concerns among Allard's partners regarding his ability to meet these financial obligations. Allard's stake in the luxurious hotel, which is noted for being the only Brazilian establishment listed among the world’s best hotels according to The World’s 50 Best Hotels awards, serves as collateral. If Allard fails to make the upcoming payments, he risks losing even more control over this prime asset.
As the due date nears, stakeholders are closely monitoring the situation, anticipating possible repercussions on both Allard's business standing and the operational viability of the Rosewood hotel. The looming debt obligations serve as a critical juncture for Allard and could impact the future of the high-profile hospitality project, particularly in the competitive landscape of exclusive hotels in Brazil.
