Pestana invests abroad

Pestana Group, the largest leisure operator in Portugal, is considering fresh investments in Poland, the Czech Republic, Hungary and Croatia, markets that it says are set for strong short-term growth. In addition, the group recently acquired Hotel Trópico in Cape Verde and is seeking investment opportunities in São Tomé e Príncipe and Angola. The group is also considering possible investments in Madrid and in southern Spain. Pestana Group recently acquired the four-star Hotel Murano in Argentina from a bankrupt developer. The hotel will be renamed Pestana Buenos Aires and be managed via Brazil, where Pestana has five hotels and one under construction in Curitiba. The Pestana Group says its 15 million euro Tróia Peninsular investment, being built in partnership with the Sonae Group, involves a 100-hectare site with two kilometres of ocean fronting. The project is still awaiting clearance from local planning authorities, but the developers plan to build a 900-bed tourism complex, a real-estate development, a golf course and a clubhouse in a gated community offering ‘spectacular tourism opportunities’.