105
105

Memmo Invests €30m in Two New Hotels in Lisbon

13 December 2017

Memmo Hotels will invest roughly 30 million euros to build two new hotel units in the Portuguese capital.

The Portuguese hotel chain, which is in its tenth year of operation, intends to increase its investment in Portugal, a country where tourism is experiencing heady growth. In an interview with Publituris, Rodrigo Machaz and Paulo Duarte, CEO and Operations Director of Memmo, explained that “two new projects are in the works for Lisbon: one that will be smaller than the hotels that the group currently operates (currently, Memmo’s smallest hotel has 40 rooms); and a second, also in Lisbon, which will be Memmo’s largest hotel in the city.” According to the executives, “there is a planned investment of around 30 million euros.”

For the moment, they are not revealing details regarding the location of the new hotels, but they guarantee that they will be in the city’s historic centre.

Outside of Portugal’s capital, other destinations such as Porto, the Algarve and the Azores may be the focus of additional investments. “A new project is currently under study in the Algarve”, they stated by way of example.

Memmo Hotels currently has three hotels in operation, namely the Memmo Baleeira, in Sagres, with four stars, the Memmo Alfama, in Lisbon, again with four stars, and the Memmo Príncipe Real, a five-star hotel, the chain’s latest unit in the capital.

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner