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Ronaldo buys Monte Carlo hotel for €140 million

Just a month after joining forces with Portuguese hotel chain Pestana to open four hotels (click here), football star Cristiano Ronaldo has now reportedly bought a hotel in Monte Carlo, Monaco for €140 million.

According to Spanish news agency EFE, the hotel belonged to Italian magnate Alessandro Proto and America’s controversial presidential candidate Donald Trump.

Proto is also believed to have sold CR7 a loft apartment in New York’s Trump Towers in August 2015 for around €16 million.

Ronaldo has been building up a sizable empire in the last few years, having already launched his own shoe range.

He is now branching out into the hotel industry, with plans to open hotels in Madrid, Lisbon, Madeira and New York.

The €75 million project will see the first two hotels opening in Funchal next summer and downtown Lisbon a few months later. In 2017, two more will open in Madrid’s iconic Casa de la Carnicería building and in New York’s Times Square.

michael.bruxo@algarveresident.com