Operating · Rio de Janeiro, Brazil · Grupo Iter (founding shareholder)
Sugarloaf Cable Car
One of the world's most iconic ropeways — and its oldest in continuous operation. Owned and operated by our founding shareholder Grupo Iter since 1912.
The asset
The Sugarloaf Cable Car (Bondinho do Pão de Açúcar) has carried visitors above Rio de Janeiro since 1912 — the world’s oldest cable car in continuous operation, and one of its busiest, welcoming over two million riders a year.
The asset is owned and operated by our founding shareholder Grupo Iter. It is the proving ground for the operating playbook Elevate applies across its portfolio: dynamic pricing, diversified ancillary income — dining, retail, events, and media — and disciplined operational efficiency. Under Grupo Iter’s management, ridership grew by over 50% between 2018 and 2024 and average spend per visitor more than doubled, with revenue and EBITDA growing at strong double-digit annual rates.