15 July 2019 – Richard D. K. Turner
HDP, which owns the properties where the Lisbon and Porto Sheratons operate, along with two hotels in the Algarve, will invest approximately €8 million to remodel the Porto Sheraton and open the Casa de Montevideu.
Sheraton, which manages the eponymous hotel in Porto, will now take over management of the Casa de Montevideo, also owned by HDP. The hospitality group will run the new events venue, operating the business and providing catering services.
HDP, a firm funded with Brazilian capital, is investing approximately six million euros in the acquisition of the Casa de Montevideu and subsequent renovations. The firm will also disburse about another two million euros to remodel the 265-room Sheraton Porto.
Original Story: Jornal de Negócios / Rui Neves