THE HOTI HOTEIS GROUP INVESTS IN THE PURCHASE OF TWO NEW HOTEL UNITS
THE HOTEL CHAIN ACQUIRES UNITS IN FUNCHAL AND CASTELO BRANCO
The Hoti Hoteis Group is taking advantage of the current market situation to make selective investments, with an emphasis on recent acquisitions of two new hotel units, for an amount in excess of 25 million euros, one in Funchal, which will become the second hotel unit in that city, and the other in Castelo Branco, already managed by the group under the Tryp Hotels brand.
The Golden Residence, a 4-star hotel with 173 rooms, located in the Noble area of Funchal, used to belong to the ECS Fund and has now been purchased by Hoti Hotéis to bolster the Group’s offerings in Madeira. This is the first deal between this fund and a Portuguese group. At the summit of an imposing rise with wonderful panoramic views over the sea, the Golden Residence Hotel has a modern design, an outdoor pool, SPA and large public areas.
Similarly, the Tryp Colina do Castelo, located in Castelo Branco, is a 4-star hotel with 103 rooms, an indoor swimming pool, Jacuzzi, sauna, Turkish baths, tennis and squash courts, and belonged to a traditional family from the region. With this acquisition, the hotel chain added the ownership and operation of the Tryp Colina do Castelo hotel to the management of this unit.
These two investments form part of the Group’s domestic market growth strategy; since the start of the year it has invested over 12 million Euros in refurbishing the Tryp Lisboa Caparica Mar hotel – the ex-Caparica Hotel – and in the opening of the new Star Inn Hotel at Lisbon Airport (three star hotel), totalling 37 million Euros.
Also during this year, the Group plans to open a new hotel unit in Maputo, which will be the first unit in Mozambique and the first investment in that country, amounting to a total of 16 million Euros. It is a 4-star hotel, located in the Baixa part of the city, with 173 rooms, conference rooms, restaurant, bar, gym, and parking.
Established in 1979, the Hoti Hotéis group is a hotel chain with 100% Portuguese capital and is ranked as the top Hotel Chain with a presence in Portugal, and the 2nd largest in terms of providing hotel management services. The Hoti Hoteis group comprises Meliá Braga Hotel & Spa (five-star hotel), Meliá Madeira Mare Resort Hotel & Spa (five-star hotel), Meliá Ria Hotel & Spa (four- star hotel), TRYP Lisboa Oriente (four- star hotel), TRYP Lisboa Aeroporto (four- star hotel), TRYP Leiria (four- star hotel), TRYP Colina do Castelo (four- star hotel), TRYP Porto Expo (four- star hotel), TRYP Porto Centro (three- star hotel), TRYP Lisboa Caparica Mar (four star hotel), Hotel da Música (four star hotel), Golden Residence hotel (four-star hotel), Star inn Porto (three-star hotel), Star inn LIsbon (three-star hotel) and Soleil Peniche (three-star hotel).