According to a report by ECO, Mercan Properties, owned by the Canadians of Grupo Mercan, will invest €187 million in the construction of three hotels in Portugal. The Riverview, Moxy Alfragide Lisbon and Marriott Lagos will operate as a franchise under the Marriott International brand, contributing to the creation of 281 direct jobs, in a sector where a lack of manpower is a concern.
In Porto, more specifically in Vila Nova de Gaia, “The Riverview, a Tribute Portfolio Hotel” will open soon. This is an “urban redevelopment project” located in a historic area, the result of an investment of €26 million, says Mercan Properties, in a statement. This unit will have 70 rooms, a swimming pool, bar and gym, and will create 21 jobs. It should open doors in the first quarter of 2023.
Another of the Canadian company's investments is Moxy Alfragide Lisbon, which represents the debut of Mercan Properties in Greater Lisbon. This hotel is the result of an investment of €63 million and will offer guests “affordable prices”. It will have 218 rooms, an indoor pool, meeting room, restaurant and bar. It will be “a space dedicated to tourism, but also to business activities, with an important focus on social and cowork spaces”. It will create 130 jobs and is scheduled to open in the first quarter of 2024.
Finally, Mercan Properties will have a third hotel in Lagos, in the Algarve. The Marriott Lagos will be located next to the beach of Porto de Mós, the result of an investment of €98 million. “It will focus on the leisure and sports segments” and will have 201 rooms, a cinema room, spa and gym. It should open its doors in the summer of 2023 and is expected to create 130 direct jobs.
“The collaboration with Marriott International is another source of pride for Mercan Properties, which has sought to work with the best brands in the development of quality hotel projects in Portugal that contribute positively to the Portuguese economy”, says Jordi Vilanova, president of Mercan Properties, quoted in a statement. All hotels will be managed by Ace Hospitality Management (AHM).
These three units thus join the 14 real estate projects in the tourism sector that the Canadian group has in Portugal, of which five are already completed. The first investment took place in 2015 and the most recent investment was in the summer of last year, with the purchase of the Centro Empresarial de Alfragide, which will be transformed into a hotel.
I have investments via them in the Golden Visa category. I hope they are good and safe
By john mathews from Other on 06 Mar 2022, 01:07