Pestana Group continues to sell off real estate assets in order to be focus more on hotels operation. The latest disposal is of the Pestana São Luís Resort Hotel in Brazil which will continue operating on a franchise basis. Pestana Group is the largest Portuguese hotel chain with a strong international presence in markets such as Spain, UK, Germany, USA, Cuba, Argentina, Brazil, and across South America and Africa.
Pestana São Luís Resort Hotel in Brazil was acquired by Dionisio Pestana Group in 2007 for €2.44m, but required a great deal of renovation work. The sale price in the recent deal has not been revealed. “This is a strategic move in relation to the asset,” said Paulo Dias, Director of Operations at the Pestana Hotel Group in Brazil. “But our brand will continue in the venture, which is now run by the owner, while the commercial actions remain with us.”
