Glossary

Founder Shareholders: Bezerra de Mello Family members

Controlling Shareholder: group of shareholders, individual or companies, which comprises the controlling shareholders/founders of the Bezerra de Mello family.

Bovespa/BVSP: S√£o Paulo Security Exchange.

CAGR: Average Annual Growth

Company or Othon: Hotéis Othon S.A.

CVM: Brazilian Security Exchange Commission.

EBITDA: Earnings Before Interests, Taxes, Depreciation and Amortization.

EMBRATUR: Brazilian Tourism Institute.

IFRS: International Financial Reporting Standards.

US GAAP: United States General Accounting Accepted Procedures.