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Pestana Bets on Growth |
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Monday, January 8, 2018
Lisbon.- Portugal's Pestana Hotel Group is preparing an expansion program as a result of which it is expected to have 100 hotels by 2020, with investments of nearly 250 million euros.
The hotel chain currently has a score of projects under way, mainly in Europe, except two establishments in New York and New Jersey, in the United States.
In addition to Spain, Pestana is present in Germany and the United Kingdom, where it plans to expand to other cities and it is negotiating the acquisition of three hotels, one of which is in Brussels.
The group also operates in Brazil, Argentina and Uruguay, although it has ruled out to grow for now in the Latin American market, due to the negative signs there over the past few years.
Experts recalled that among the group's most famous brands is CR7 Lifestyle, where Pestana is a 50-percent partner with the football star Cristiano Ronaldo.
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