Annual Shareholders' Meeting Call Notice To be held on April 30, 2014

BHG S.A. - Brazil Hospitality Group ("BHG" or "Company"), a corporation with headquarters at Rua Ramos Batista, nº 444, 10º andar, in the city and state of São Paulo, inscribed in the roll of corporate taxpayers (CNPJ/MF) under number 08.723.106/0001-25, registered with the Brazilian Securities and Exchange Commission ("CVM") as a publicly-held company category "A" under the registration number 20907, whose shares are traded at the Novo Mercado listing segment of the BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange ("BM&FBOVESPA") under the ticker BZHG3 ("Company"), in accordance with Article 124 of Law 6,404 of December 15, 1976, as amended ("Brazilian Corporation Law") and Articles 3, 4 and 5 of CVM Instruction 481 of December 17, 2009, as amended ("CVM Instruction 481"), hereby calls its shareholders to the Annual Shareholders' Meeting ("Shareholders' Meeting"), to be held at 2:30 p.m. on April 30, 2014 at the Company's headquarters to examine, discuss and vote on the following agenda ("Call Notice").

(i) The acknowledgement of the accounts of the Board of Executive Officers, management report, financial statements and independent auditor's report, all related to the fiscal year ended December 31, 2013;

(ii) The allocation of the Company's net income for the fiscal year ended December 31, 2013; and

(iii) The proposal for the overall compensation of the Company's administrators for fiscal year 2014.

Click here to access the ASM Call Notice.

Click here to access the ASM Management's Proposal.

São Paulo, April 15, 2014

RUBENS MARIO MARQUES DE FREITAS
CHAIRMAN OF THE BOARD OF DIRECTORS

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