Ronaldo to open four hotels with Pestana

Portuguese football star Cristiano Ronaldo and Portuguese hotel chain Pestana have joined forces to build four hotels in Madeira, Lisbon, Madrid and New York under the brand “PestanaCR7”.

The €75 million project was announced in a press conference in Lisbon on December 17.

The first two hotels will open 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.

Altogether, the four hotels will boast between 400 to 500 rooms and be managed by the Pestana Hotel Group, though they will be owned equally by Ronaldo and Pestana.

Pestana says the hotels will cater to “boutique and lifestyle” market niches, with CR7’s image being used as the “main inspiration”, especially in Funchal, where Ronaldo was born and grew up.

“I’ve always dreamed of having a hotel,” said Ronaldo at the presentation, cited by Lusa news agency.

“I’m sure that this investment will be one of the best things I could do for my future,” he added.

Ronaldo’s latest foray into the business world has shown that the footballer is committed to remaining successful after his sporting career ends.

In 2014, he had already launched his own line of “100% Portuguese shoes” (click here).

For Pestana, the deal will see its number of hotels topping 90 in 16 countries.

michael.bruxo@algarveresident.com

Photo: The football star with Dionísio Pestana from the hotel chain during the press conference in Lisbon