Altis To Open Hotel in Madeira in 2020

19 October 2017

The Group will open a four-star hotel in the municipality of Santa Cruz by September 2020.

Raul Martins, president of the group, related the news to the site Publituris, which reported on the contract for operating the hotel, which will consist of 100 rooms and 150 apartments.

The Altis Group thus chose Madeira as the site of its first foray outside of Lisbon, where it operates five hotels.

The Altis Group currently has around 600 rooms, 900 beds and 425 employees, and excellent financial performance, with EBITDA increasing by more than 20% between 2015 and 2016, reaching 6 million euros per year.

Original Story: Jornal Econômico – Patrícia Gaspar

Translation: Richard Turner