The Mercan Group is investing 450 million euros to build eight more hotels in Lisbon and the Algarve

Source: ECO 

The construction is set to begin this year, as anticipated by Mercan to ECO. One of the new projects is the country's first Hard Rock Hotel, which will be located at Vau Beach. This year, the Canadian group will open three hotels. Continuing its investment in Portugal, the Canadian Mercan Group plans to spend 450 million euros to construct eight more hotels in the country, primarily in the Lisbon and Algarve regions.

The construction, as told to ECO by Miguel Gomes, Construction and Development General Manager at Mercan Properties, will start in 2024. However, 'predicting the exact start of construction is always a challenge,' considering that 'the construction date is directly related to the licensing processes,' reminds Miguel Gomes, who leads one of the largest real estate promoters in the national hotel segment. In total, these new eight hotel units will include 1,400 rooms or accommodations.

For now, Mercan Properties is not disclosing the exact locations of the new eight hotels, but one of the projects is the country's first Hard Rock Hotel, to be located at Vau Beach in Portimão. The new hotel, expected to open in the summer of 2026, will create 400 jobs and will feature about 452 luxury rooms and suites. In addition to direct access to Vau Beach, guests will be able to enjoy the Hard Rock Kids Club, three restaurants, three bars, three outdoor pools, a Rock Spa, a gym, a Rock Shop, a sports area, and a beach club, with the new Hard Rock Hotel Algarve also offering a conference room.

In addition to these new constructions, before the summer of 2024, Mercan Properties will open three hotels, representing an investment of approximately 54.6 million euros.

These include the Holiday Inn Express Porto-Boavista, with 91 rooms and a 21 million euro investment, and the Holiday Inn Express Évora – Mercan's second unit in this city – with 76 rooms and an investment of 16.8 million. The Holiday Inn Beja, with 95 rooms and also an investment of 16.8 million. These three hotels will be managed by AHM - Ace Hospitality Management a company within the Mercan Group.

With these new projects, Mercan Properties – which entered Portugal in 2015 – will have a portfolio of 30 hotels in various locations across the country, including Porto, Vila Nova de Gaia, Matosinhos, Lisbon, Amarante, Santiago do Cacém, Évora, Beja, Algarve, and Madeira Island. Besides Portugal, the Canadian Mercan Group has a presence in China, India, the United Arab Emirates, and the United States of America.

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