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Mercan Group to Invest 450M Euros in 8 New Lisbon & Algarve Hotels

In an anticipated move, Mercan Group disclosed plans to commence construction this year on multiple hotel projects, including Portugal’s inaugural Hard Rock Hotel, set to grace Vau Beach. The Canadian conglomerate will inaugurate three hotels this year, solidifying their commitment to the country.

Miguel Gomes, Mercan Properties’ Construction and Development General Manager, indicated that construction for these hotels, constituting 1,400 rooms in total, will initiate in 2024. Acknowledging the challenges inherent in predicting the exact start date due to licensing procedures, Gomes affirmed the group’s leadership in Portugal’s real estate landscape.

While exact locations for the eight upcoming hotels remain undisclosed, the Hard Rock Hotel at Vau Beach, Portimão, is one confirmed project. Expected to open in 2026, this flagship hotel will generate 400 job opportunities and showcase 452 luxurious rooms and suites. Boasting direct beach access, the hotel will offer an array of amenities, including a Kids Club, multiple restaurants and bars, outdoor pools, a Rock Spa, a gym, a Rock Shop, sports facilities, and a beach club. Additionally, the Hard Rock Hotel Algarve will provide a conference room.

Before 2024 summer, Mercan Properties will inaugurate three hotels, representing an investment of around €54.6 million. These include Holiday Inn Express Porto-Boavista, featuring 91 rooms with a €21 million investment, Holiday Inn Express Évora – Mercan’s second unit in the city – with 76 rooms and an investment of €16.8 million, and Holiday Inn Beja, comprising 95 rooms with a similar investment of €16.8 million. These hotels will fall under the management of AHM – Ace Hospitality Management, a subsidiary of the Mercan Group.

Upon completion of these projects, Mercan Properties, which has entered Portugal since 2015, will possess a portfolio of 30 hotels spread across various Portuguese locations. These encompass Porto, Vila Nova de Gaia, Matosinhos, Lisbon, Amarante, Santiago do Cacém, Évora, Beja, Algarve, and Madeira Island. Beyond Portugal, the Canadian Mercan Group maintains a global presence in China, India, the United Arab Emirates, and the United States of America.

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