Six years after the launch of the partnership that unites
the largest hotel group in the country with Cristiano Ronaldo – who has a portfolio
of five Pestana CR7 hotels – Dionísio Pestana will now launch the brand in real
estate, according to Jornal de Negócios.
Representing an investment of €50 million, the first project
will be in the player’s home island of Madeira in Praia Formosa, Funchal, with
the start of the construction of 88 apartments for the second half of next
year. This 50-50 partnership, is set to mark the beginning of Pestana
Dionísio Pestana also admits to expanding the brand across borders, but this “is not part of the strategic plan” for now. “Right now we are more focused here on mainland Portugal and Madeira. We also did a project in the Azores. Let's start with this project, see the result and also evaluate the impact”, explained Dionísio Pestana to the newspaper.