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Pestana CR7 Invests 60 Million Euros in New Hotel in Paris
12 September 2018
The Pestana group, in partnership with Cristiano Ronaldo, is set to open its sixth Pestana CR7 hotel in Paris, France, in a 60-million-euro investment, the company announced in a statement.
The four-star hotel, due to open in 2021, will have 210 rooms and will be the brand’s “largest to date. It will be located on the Left Bank, near the Seine, between the Austerlitz and Lyon train stations,” according to the same document.
At the moment, the hotel is in the “preliminary licensing phase”, the Portuguese hotel group stated.
“Like the other five Pestana CR7 Lifestyle Hotels, this is a 50-50 investment partnership between the Pestana Hotel Group and Cristiano Ronaldo,” in which the hotel will be managed by the hotel group, the source said.
The football star said that “it makes perfect sense for the Pestana CR7 brand to open in Paris, one of the most visited cities in the world.” In turn, José Roquette, Chief Development Officer of the Pestana Hotel Group stated that “with this achievement, we are on the way to doubling the brand’s size, with a largely international expansion that reinforces its global visibility.”
The Pestana CR7 Lifestyle Hotels brand currently has two units in Lisbon and Funchal, but openings are planned in Madrid, New York, Marrakech and Paris for a total of 800 rooms, the hotel group said.
Globally, and after these inaugurations, Pestana will have more than 90 units operating in 15 countries.
Original Story: JM Madeira
Translation: Richard Turner