Quinta do Lago is hosting the launch event for the new Porsche Panamera, in a deal predicted to generate an income of around €10 million for the Algarve, particularly for its hotel and restaurant industries, according to online publication Dinheiro Vivo.
The presentation started on July 4 at the resort and will continue until July 20.
Loulé Mayor Seruca Emídio told Dinheiro Vivo: “The Algarve was chosen for being a top quality destination, for its climate, hospitality, landscape, gastronomy, road safety, particularly in the hinterland areas of Loulé council, and first class hotels and tourist resorts, among other factors.”
Nearly 1,500 Porsche concessionaires from all over the world are said to be participating in the event. It is also speculated that a large number of the visitors may become potential investors in the Algarve either through the purchase of properties or through business deals.
According to the online publication, the rental of the Casa do Lago restaurant alone cost the organisation €470,000.
Quinta do Lago was contacted by the Algarve Resident to confirm the information but the resort declined to make any public comment on the subject.