Osvaldo Chudnobsky

Osvaldo Chudnobsky


Managing Partner




Av. das Nações Unidas 14.261,
Edif. WTorre Morumbi Ala B 25º Floor,
São Paulo, SP 04794-000, Brazil



+55 11 989 67 2442


Core Competencies:

  • Design and evaluation of mixed use developments including hotels, offices, residences and commercial premises
  • Feasibility studies and market researches for mixed used projects including hotels
  • Business structuring for hotel and synergic industries

Professional Summary:

  • Horwath HTL Brazil Country Manager (current)
  • Partner in Charge of HTL Capital Advisors in Brazil
  • Development Director of Posadas Group for South America based in São Paulo (2010-2012)
  • Partner in charge of Horwath HTL in Argentina, Brazil, Chile y Uruguay (2008-2010)
  • Horwath HTL Regional Marketing Director in Latin America and the Caribbean (2009-2010)
  • Member of the Horwath HTL Services Standardisation Worldwide Committee (2009-2010)
  • Consultancy Director Horwath HTL in Spain, Portugal, Ukraine and Andorra (2002-2007)
    Founder of the European Chapter of the HTL International Consulting Team (ICT)
  • Manager of Horwath HTL Argentina, Uruguay and Paraguay (1998-2001)
  • MKT Marketing Consultants, Director of the Real Estate and Tourism industries (1994-1997)

Experience / Main Goals:

  • As Horwath HTL Brazil Country Manager
  • Concept design and feasibility studies for Hard Rock Resorts & Residences in Fortaleza, Natal, Ilha do Sol and Rio de Janeiro
  • Investment Memorandum for Hard Rock Hotel in São Paulo Morumbi and Paulista
  • Valuation of a portfolio of 25 management contracts in a joint project with Crowe Horwath Corporate Finance
  • Feasibility Study of proposed Six Senses Resort & Residences Bahia, Hard Rock Resort Gramado and others still confidential

As Partner in Charge of HTL Capital Advisors Brazil:

  • Successfully implementation of Origination Business Unit, related with the Brokerage Business Unit
  • Conceptualization of 8 hotel projects in São Paulo and Rio de Janeiro for NH Hotels
  • Origination of 6 luxury hotels and resorts portfolio for Luxembourg Investment Fund
  • Conceptualization of hotels and resorts on existing assets for Six Senses, Hard Rock Hotels, The Setai, Belmond, Minor International (AVANI brand), citizenM, Bourbon and others
  • Design of hotels on offices edifices belonging to huge real estate companies and developers
  • Opening of representations in Buenos Aires, Santiago de Chile, Lima, Montevideo and Bogota
  • Creation of network of allies: architects (local and international companies specialised in hotels), lawyers, financers and real estate brokers

As Development Director of Posadas Group:

  • Successful design and execution of the Development Plan in terms of product, strategy and financing
  • Successful attraction of land owners, developers, real estate brokers and investors: 19 management contracts and 34 LOI signed two years (Brazil, Argentina, Chile and Peru for 5, 4 and 3* star hotels)
  • Successful creation of a financing system thru big professional investors , providing a consistent solution for a continued growth

As Director and Partner of Horwath HTL:

  • (Barcelona office), developing specific products for that market
  • Launching HTL new offices in Porto (Portugal), Kiev (Ukraine) and Andorra
  • Creation and trainee of the professional teams in every country in different Languages
  • Creation of the Business Development Division, developing a new line of services focused in the design of hotel/tourism projects, search of operators and structure of financing/investment
  • Participation in the Worldwide Team in charge of the standardization of techniques and methodologies
  • Successful actions as Latin America Marketing Director, performing cross-border engagements and developing multi-national clients

Key Projects:

  • Feasibility studies for several Hard Rock Resorts and Residences
  • Origination of NH Hotels in Jardins, Vila Olimpia, Morumbi and Downton in São Paulo city and Ipanema and Downtown of Rio de
  • Janeiro city – brands NH, NH Collection and nhow
  • Origination of Hard Rock Hotel São Paulo taking 19.000 m2 inside a 200.000 m2 AAA offices edifice
  • Origination of Bar Brahma Hotel in São Paulo downtown (beer-themed hotel)
  • Origination of Six Senses urban hotels in São Paulo and Buenos Aires
  • Origination of Six Senses Polo Resort in Pilar, Buenos Aires, Six Senses Bahia Beach Resort (Brazil), Six Senses Coffee Fazenda Eco-
  • Production Resort and others under development
  • Conceptualization of 22.000 m2 office building to be converted into conventions hotel for São Carlos company (São Paulo)
  • Advisory for 5 hotels in the main airports of Brazil for VCI Holding
  • Agreement between VCI Holding and Six Senses to be country developer in Brazil
  • Advisory and assistance in the contract negotiation for Hard Rock Hotel in Santa Catarina, Recife and Rio Grande do Sul, Brazil
  • Origination of Avani Hotel São Paulo in Jardins for Minor Hotel Group
  • Design of luxury hotel + residences resort in one of the ten most relevant historic palaces of Brazil in Ilhabela, São Paulo Estate
  • Design of luxury hotel + meetings spaces in one of the most relevant historic palaces of Argentina in San Isidro, Buenos Aires Province
  • Preparation for M&A of the faster-growing hotel chain in South America
  • Assistance in the definition of the concept, financing, negotiation and signature of the contracts of Caesar Park (5*) in Pilar (Buenos Aires) and Belo Horizonte, Caesar Business (4*) in Pilar, Vinhedo (SP), Montevideo (Uruguay), Concepcion, Antofagasta, Santiago, Copiapó and Iquique (Chile), and ONE by CB (3*) in Belo Horizonte, Salvador, Lujan, Pilar, Concepcion, Antofagasta, Santiago, Copiapó and Iquique.
  • Feasibility studies and business plan for the development of a set of budget hotels in the State of Rio de Janeiro, São Paulo and Minas Gerais, Brazil
  • Feasibility study for the development of a hotel in Recreio dos Bandeirantes, Rio de Janeiro - Brazil
  • Feasibility study for the development of a budget hotel and analysis of the current retail demand and offer in the city of Itatiba, Sao Paulo – Brazil
  • Feasibility studies for de development of a set of budget hotels in different areas of the Buenos Aires Province - Argentina
  • Feasibility study for the development of a 5* hotel and residential project in the Buenos Aires Golf, Bella Vista – Argentina
  • Conceptualisation for the development of a 5* hotel and complementary offer in Belgrano-Palermo, City of Buenos Aires – Argentina
  • Conceptualisation for the development of a hotel and residential project in Uco Valley - Argentina
  • Conceptualisation for the development of a hotel and residential project in Bariloche - Argentina
  • Conceptualisation for a hotel project to be developed in Pilar, Argentina
  • Conceptualisation for a hotel project to be developed in Luján, Argentina
  • Feasibility studies for the development of 4* and 5* hotels in Santiago and Concepción - Chile
  • Feasibility study for the development of a hotel, convention centre and complementary offer project in the Business Boulevar Park in the city of Córdoba, Argentina.
  • Feasibility study for the development of a luxury polo themed resort for Jumeirah – Argentina
  • Thermal Tourism Product Club Strategy design in Chile
  • International Thermal Tourism Market study, Santiago – Chile
  • Feasibility study for the development of a 5* resort in Villa La Angostura – Argentina
  • Feasibility study for the development of a mixed Hilton project in Bariloche - Argentina
  • Feasibility study for the development of a hotel in the city of San José – Costa Rica
  • Feasibility study for the development of a 5* hotel in the city of Buenos Aires – Argentina
  • Market study for the development of luxury hotels in the cities of Lima and Cuzco, Peru
  • Feasibility study for the development of a mixed use project including hotel, residences, commercial and complementary offer in Fisherton, Rosario, Santa Fe - Argentina
  • 5* Hotel and Casino market study in the city of Montevideo – Uruguay

Feasibility studies:

  • Alcorcón (Madrid), Algarve (Portugal), Andorra, Badalona, Barcelona, Buenos Aires, Cheste (Valencia), Córdoba (Argentina), Coslada (Madrid), Costa Brava (Catalunya), Donetsk (Ukraine), Dnepropetrovsk (Ukraine), Estepota, Finestrelles (Barcelona), Fortaleza (Brazil), Kharkov (Ukraine), Kiev (Ukraine), La Manga (Murcia), Madrid, Manresa, Marbella, Mendoza, Merlo (San Luis, Argentina), Odessa (Ukraine), Río Cuarto (Argentina), Sabadell (Barcelona), Sant Cugat (Barcelona), Valencia, Valle de Tena (Aragón), Viladecans (Barcelona), Yalta (Black Sea, Crimea - Ukraine)


  • Porte des Neiges: mountain town, resort and ski station in France (Andorra frontier) (80.000 m2 building)
  • Complex Yalta: 1.100 rooms hotel in operation plus 5* hotel and destination resort to be developed – including Master Plan – In the Crimea Peninsula, Black Sea, Ukraine
  • Budget hotels chain in Spain, Portugal and Andorra for the development of a new budget hotel chain
  • Destination resorts in Mula (Murcia, Spain), Almuñecar (Tropical Coast) y Vorzel (Kiev) and EcoResort in the Golden Coast (300.000 m2 building)
  • Thermal Resort with a convention centre in La Garriga, Barcelona
  • Thalasso resort in Yalta, Black Sea, Crimea, Ukraine

Real estate consulting projects:

  • “Pushkin” Residential project, Kiev, Ukraine (200.000 m2 building)
  • Residential and offices project in Odessa, Ukraine (90.000 m2 building)
  • Office Centre in the Forum area, Barcelona (40.000 m2 building)
  • Residential offer in the Yalta Resort (600 units for sale and time share)
  • Urban development in Kiev (Podol 300.000 m2 building)

Consulting services for Malls and retail formats:

  • Olympic Plaza Kiev, Ukraine: main mall to open in 2007 – study including operators prospect used to sell the project to foreign investors (190.000 m2 building)
  • Rubi Leisure Centre, Barcelona (50.000 m2 building)
  • Mall and Leisure Centre in Tárrega, Barcelona (40.000 m2 building)
  • Mall, gastronomy and leisure centre in the Cheste Formula 1 circuit, Valencia
  • Commercial and restaurant area in the Parc Central del Vallés, Sabadell – Barcelona
  • Commercial and restaurant area in the Marina de Badalona, Barcelona

Quantitative market researches:

  • Summer and Winter demand in the Andorran, Catalan, Aragon and French Pyrenees (3 languages – 2.500 cases)
  • Clients (500 cases) and no clients (400 cases) and commercial channel (150 cases) of the Yalta Hotel (6 languages and 7 countries)
  • Visitors of tourist and leisure centres in Tárrega, Rubí and Teruel (Spain) and Pinamar and Merlo (Argentina)

Consulting services provided in these countries:

  • Argentina, Andorra, Brazil, Chile, Spain, México, Paraguay, Peru, Portugal, Ukraine and Uruguay

Other studies and projects:

  • Integral tourism development plan for the Delta del Ebro, Catalunya
  • Bed and breakfast chains in Argentina and Chile
  • Hotel projects appraisals and negotiations
  • Ceramic market study in Ukraine
  • Hotel chains development projects in South America
  • Integral Economic Development Project for Valle de Traslasierra – Córdoba
  • Tourism Strategic Project for the Province of Córdoba
  • Estancias Unidas del Sur Project – Córdoba Government

Chains involved in the different consulting projects:

  • Accor: Sofitel, Mercure e Ibis; AC Hoteles; Jumeirah, Aman Resorts; Barceló; Club Med; Days Inn; Four Seasons; Grupo Pestana; Grupo Posadas; Grupo Solans; Hard Rock, Hilton; Holiday Inn; Hyatt; Intercontinental; Kempinski; Le Meridien; Marriott; Meliá; NH Hoteles; Radisson; SAS; Ritz Carlton; Starwood: W, Westin, Sheraton, Six Senses.

Thematic areas:

  • Hotels and resorts of all categories and configurations, Malls; Thermal centres, SPAs and wellness, ski stations, country studies, quantitative market researches, offices, regional tourism planning, mixed use projects, real estate, retirement residences, residential tourism.


  • Information Systems Engineering, UTN / Córdoba (unfinished)

Courses and seminars:

  • “Adding value through computer technologies” International seminar, IAE
  • “Hotel audit – International seminar” – Horwath International, Miami
  • Course Certification for the Benzinger Thinking Styles Assessment application
  • Training for the analysis of hotel formats by Horwath – Sao Paulo, Miami, Mexico
  • Uniform Account System for Hotels – National seminar – Horwath Consulting

Publications, Speaking Engagements and Teaching:

  • Private Equity Brazil, São Paulo 2010: presentation of Investment Strategy in hotels in South America
  • Real Estate World, São Paulo 2010: participation in the panel of Hotel Investment
  • The Brazil International Investment Forum, São Paulo 2011: participation in panel about Merge and Acquisitions in Brazil
  • Hotel Investments Feasibility Analysis Methodology seminar in Barcelona, Kiev, Porto, Madrid, Sao Paulo and Santiago de Chile (Horwath HTL)
  • Economic model application in mixed investment projects in the tourism sector in Barcelona, Kiev, Porto, Madrid, Sao Paulo and Santiago de Chile
  • Workshop “New HTL office working system”, Barcelona, Kiev, Paris, Porto
  • Strategic planning for tourism destinations, Merlo
  • "Hotel e-commerce" – First international Hotel Management Congress, Buenos Aires “Defining the Internet client”.