Notice to the Market JHL's participation

BHG S.A. - Brazil Hospitality Group ("Company), pursuant to article 12 of CVM Instruction 358/02, hereby informs its shareholders and the market in general that, through a communication dated May 13, 2014, it was informed that, on May 12, 2014, the investor JHL Capital Group LLC ("JHL") has entered into equity derivative transactions (exclusively cash-settled) whereby JHL has an economic exposure to the equivalent of 12,687,800 shares issued by the Company, which represents the equivalent of 20.2% of its total outstanding corporate capital.

According to the communication received, JHL declares that (i) JHL is not enrolled with the Brazilian Corporate Taxpayers Registry (CNPJ/MF), as it is not required to; (ii) the equity derivative transactions entered into by JHL are pure financial investments and, consequently, it is not the intention of JHL to change the corporate control of BHG or its management structure; and (iii) there are no shares, convertible debentures, and/or other equity instruments held, directly or indirectly, by JHL or its affiliates.

The terms of the communication received from the representative of JHL are reproduced in Schedule I to this notice.

Rio de Janeiro, May 15, 2014

Luiz Felipe Negreiros de Sá

Chief Financial and Investor Relations Officer
BHG S.A. - BRAZIL HOSPITALITY GROUP

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