CRISTIANO RONALDO AND DIONÍSIO PESTANA LAUNCH JOINT HOTEL VENTURE
December 18, 2015
The world’s best soccer player, Cristiano Ronaldo, and the largest International Portuguese hotel group Pestana, have announced a joint partnership to launch four new boutique hotels. Dionísio Pestana, Owner and Chairman of Pestana Hotel Group, and Ronaldo – who both hail from Madeira, have together invested 75 million Euros in the project. The joint venture, which is co-owned, by both Ronaldo and Pestana will be managed by The Pestana Hotel Group.
The hotels will be located in four iconic destinations: Lisbon (Historic Downton), Madrid (Gran Vía) Funchal (Cruise Harbour) and New York (near Time Square). The new hotels, which will boast a 400-room occupancy, will open within the next two years.
Cristiano Ronaldo’s CR7 brand is the main inspiration behind the hotels, which will be boutique in style and will appeal to the modern day, millennial traveller.
“This joint venture has enormous potential,” Pestana said. “It also echoes the constant innovative spirit that embodies The Pestana Hotel Group.”
"My job is to play football, but life won't always be like this," Ronaldo said. "I have to dedicate myself to this new project and I have the best team in the world around me. I am young but I feel very fulfilled so this project is exciting for me.”
The first hotel is scheduled to open in summer 2016, in Funchal’s harbour, on the island of Madeira. Lisbon plans to open second in late 2016. Madrid and New York are due to open in 2017. With these new openings, the Pestana Hotel Group will grow to over 90 hotels in 16 countries.
About The Pestana Hotel Group:
With over four decades of success, The Pestana Group is Portugal’s leading hotel group (and by far, the largest), dedicated to offering their guests ‘the time of their lives’ at their 87 properties, across 16 countries. Mr. Pestana, the company’s visionary founder, opened the group’s first hotel in Madeira Island in November 1972 and together with his son, expanded the brand’s footprint internationally. Under their leadership the award winning Pestana brand has become a dedicated guardian of Portuguese culture and heritage, as well as a forward thinking hospitality group that offers the very best locations, around the world. The Pestana Hotel Group comprises of three hotel sub brands: Pestana Hotels and Resorts, Pestana Pousadas de Portugal and Pestana Collection Hotels. In total there are more than 10.500 rooms, served by a team of more than 7000 employees in Europe, America and Africa that welcomed 3 million guests last year. The assets of Pestana Hotel Group are valued at €1.1B. In 2015 the revenue is estimated to reach 400 million Euros and the EBITDAR will be 110 million Euros.
According to Hotels magazine 2015 ranking, the Pestana Hotel Group is currently the 125th largest hotel company in the world.
In addition to the hotels, the Pestana Hotel Group manages six golf courses and one casino and their other business assets include timeshare units, real estate developments, an airline charter company and a tour operator providing the full hospitality experience.
For more information on The Pestana Hotel Group, please visit www.pestana.com
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