3,500 new rooms in next 5 years
As it celebrates its arrival at its 100th hotel, the Pestana Hotel Group announced at a press conference in Lisbon today, the opening of 10 new hotels next year and an investment of 250 million euros to create 3,500 rooms, up to 2025
Strengthening positioning in Portugal and expanding the Pestana CR7 Lifestyle Hotels brand are the goals of the Pestana Hotel Group for 2020, with the opening of 4 units and 2 Pousadas in Portugal, 3 Pestana CR7 abroad and a new hotel in Morocco.
The Pestana brand continues to assert itself in the urban segment in Lisbon, with two hotels already announced and a project for a new Pousada in the city, totaling 250 new rooms and 20 million euros of investment. In Porto, with the opening of two more units, Pestana Douro and Pousada do Porto, with a total of 300 rooms and an investment of 30 million euros, increases its offer in the city to 6 hotels. Reinforcement of operations in the Algarve, Madeira and Azores is still planned next year.
José Roquette, Chief Development Officer of Pestana Hotel Group, says “Pestana Group is going through a unique period in its growth with strong investments and promotion of new brands, both in Portugal and abroad. Alongside the leadership in Portugal, the international strategy is focused on differentiated products, in privileged locations, considered one of the most competitive in the world ”.
The Pestana CR7 brand continues the internationalization strategy that, after Portugal and growth in Europe, reaches 2 new continents with the opening soon in North America and Africa. With 2 hotels in operation in Lisbon and Funchal, the brand now announces its 7th hotel in Manchester (2023). Remember that next year the Pestana CR7 Gran Via Madrid and the Pestana CR7 West Side in New York and the Pestana CR7 Marrakech are inaugurated.
Pestana Hotel Group’s affirmation as an international hotel chain is materialized by the opening of the 100th Pestana Park Avenue hotel in New York, which, together with Miami and Newark hotels, confirms its commitment to the North American market.
Morocco is another destination where the Group strengthens its offer. After Casablanca and Marrakesh, the Pestana brand reaches Tanger as early as 2020.
José Theotónio, CEO of Pestana Hotel Group, closed the meeting with a review of the Group’s main projects in 2019, which included the redefinition of the Pestana Priority Guest loyalty program, the implementation of a new revenue management system for all units of the Pestana Hotel Group. group, the focus on digital transformation, the strengthening of business intelligence and the creation of a Pestana app, and the focus on training and innovation. He also highlighted the success of the recent green bond issue, the first of its kind in the tourism sector worldwide. “Pestana Hotel Group ends 2019 with a consolidated turnover of 450 M € and an EBITDA above 180 M €, with a net debt / EBITDA ratio of 2.6. Very positive results that prove the leadership positioning assumed by the Group and the success of the projects developed ”, he concluded.
About Pestana Hotel Group:
With over four decades of success, the Group has and manages 100 hotels in Portugal and abroad, where it is dedicated to providing 3.5 million guests per year ‘The Time of Your Life’.
In hospitality, its main business operates with four brands: Pestana Hotels & Resorts, Pestana Collection Hotels, Pestana Pousadas de Portugal and Pestana CR7 Lifestyle Hotels. Present in 15 countries, it has over 12,000 rooms available in Europe, Africa and America and a global team of 7,000 employees, being the largest multinational hotel group of Portuguese origin. With the objective of offering complete and more attractive products, the Group also operates in other business areas: hospitality, tourist real estate, vacational tourism, golf, casinos, industry and services.
It closed 2019 with a consolidated turnover of 450 ME, an EBITDA of about 180ME.
Enter the Pestana universe and learn more at www.pestana.com