B&B to Invest €70 Million in Seven Hotels in Portugal

9 January 2019

B&B is planning to open seven new hotels in Portugal, in the cities of Loures, Montijo, Oeiras, Matosinhos, Vila Nova de Gaia, Viseu and Viana do Castelo.

B&B, which opened its first hotel in Portugal (Cantanhede) in 2018, has already chosen the location of its next seven units. The hotel chain is planning to open seven new hotels in Portugal, in a total investment of 70 million euros, according to a statement issued on Wednesday, January 9.

After its first hotel in Cantanhede, B&B will first open another new hotel in Loures. The B&B Hotel Lisbon Airport is a 188-room, three-star unit, with a total investment of 15 million euros, according to the statement. António Rodrigues, CEO of the Casais Group, Bernardino Soares, president of the Loures City Council, and Jairo Gonzalez, CEO of B&B, all took part in the ceremony laying the first stone. Construction on the hotel is slated to last for 16 months.

The Casais Group will be responsible for the unit’s construction. The construction company will also build two of the group’s other future hotels in Montijo and Oeiras. B&B expects to complete these two units by 2020.

“B&B Hotels has also opened other hotels in Portugal, namely in Matosinhos, Vila Nova de Gaia, Viseu and Viana do Castelo,” said the same source.

In total, B&B estimates that its overall investment in the seven projects in Portugal will reach 70 million euros.

In December, Jairo González, head of B&B for the Iberian Peninsula, revealed in an interview with the Spanish newspaper Cinco Días, that B&B wanted to open 15 new hotels in the Iberian Peninsula, 10 in Spain and five in Portugal.

A statement this Wednesday added to the total number of new hotels in Portugal while identifying their locations. At the time of the announcement, the executive, in an interview on B&B’s investments in the Spanish market, stated that our “focus would be on cheap, central, affordable and modern hotels for customers who pay from their own pocket and whose rates fluctuate according to demand. There may be tariffs ranging from 80 euros in the low season to 200 euros in high season.” Negócios attempted to contact the company directly, without success.

The 28-year-old company has been present in Spain since 2015. In 2018, it entered four new markets: Belgium, Switzerland, Slovenia and Austria, according to the company’s website.

The hotel chain plans to have 620 hotels around the world by the end of 2020. Currently, it has 450, which “means it will need to open 50 hotels per year or one per week,” said Jairo Gonzalez.

Original Story: Jornal de Negócios – Sara Antunes

Translation: Richard Turner