Catalonia Hotels & Resorts comes to Portugal | in Dinheiro Vivo
The hotel chain Catalonia Hotels & Resorts is coming to Porto, in a partnership with the constructor Lucios.
Catalonia Hotels & Resorts, one of Spain’s main hotel chains is coming to the Portuguese market in 2020. Porto was the selected city for this, following a partnership with the constructor Lucios, specialized in urban rehabilitation.
The business “confirms the new strategy of Lucios Engenharia e Construção for the real estate sector”, by introducing a new business model based on ‘turnkey’ projects. The real estate process is entirely ensured by the constructor, from property acquisition to project execution, licencing, construction, counselling and consultancy, stated the company in a press release.
“This new strategy allows us to adapt to new market requirements that show a strong demand from foreign investors. By designing these turnkey projects, we can provide the client with an added value service while ensuring that their entry in the Portuguese market is sustainable”, notes Filipe Azevedo, administrator of Lucios, while assuming that they are aiming for this new area to be responsible for 40% of the turnover of the company.
This project means an investment of 14 million euros from Catalonia Hotels & Resorts, including, among other services, the acquisition of five properties in the historical area of Porto (property of Lucios) and the rehabilitation works. These works will be developed for 18 to 24 months. The opening is expected to occur in 2020. The expansion director of Catalonia Hotels & Resorts recognises that entering the Portuguese market is an “old goal”, and that the group will still be seeking new opportunities, both in Porto and Lisbon.
“Both cities are highly interesting from the tourism standpoint and hold great profitability potentials. This way, they could not be left out of our current international expansion polity”, claims Federico Holzmann. The first Catalonia Hotels & Resorts unit in Portugal will have 86 rooms, a garden, interior pool, SPA, meeting rooms and other services.
This group currently holds 68 hotel units in five countries: 56 in Spain, two in Belgium (Brussels), one in Germany (Berlin) and one in the Dominican Republic (Santo Domingo). Catalonia Hotels & Resorts also holds four resorts in the Dominican Republic and four in Mexico.
In Dinheiro Vivo.