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Canadians continue to invest in hotels in Portugal

9 January, 2025
Canadians continue to invest in hotels in Portugal

Source: The Portugal News

The Canadian group Mercan Properties , which entered the Portuguese market in 2015, intends to increase its hotel presence in the country, planning to grow from 12 to 31 accommodation units by the end of the decade.

"The portfolio, between open and current hotels, is 31 hotels, 3,430 rooms, 1,200 million euros of investment", says Miguel Gomes, Construction & Development General Manager, in an interview with ECO.

"The investment model we operated in Portugal was innovative, as it was the first country where we attracted investment and directed it to projects developed by Mercan itself. We captured the investment in full for each of these projects", adds the executive.

According to the newspaper, the group is currently implementing a new investment model in the "hospitality" area, through the Mercan Private Equity Fund I, which has a capital of 140 million euros. This new ARI regime requires a minimum investment of 500 thousand euros in participation units, replacing previous options that required lower amounts.

The group already has projects underway for three new hotel units in Gaia and Portimão, namely a four-star Marriott hotel in Gaia; a five-star Hilton in Alvor; in addition to the development of the Hard Rock Hotel in Praia do Vau, which involves the rehabilitation of an abandoned building, representing an investment of more than 200 million euros.

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