Cristiano Ronaldo to invest €75 million in boutique hotels

George Sell By George Sell
18 December 2015 | Updated 18 December 2015

Portugal: Footballer Cristiano Ronaldo has teamed up with hotel operator Grupo Pestana to develop four boutique hotels.

Portugal: Footballer Cristiano Ronaldo has teamed up with hotel operator Grupo Pestana to develop four boutique hotels.

Ronaldo will own 50 per cent of the joint venture, according to Dionisio Pestana, the group's chairman. He will invest €75 million in the properties, which will be in Maderia, Lisbon, New York City and Madrid. The Portuguese hotels will open next year, with Madrid and New York City scheduled for 2017.

"This is the biggest project of my life. It's an investment in a completely different area, but as you can imagine the goal is to take care of my future and the future of my son. I'm and ambitious person and a fighter," Ronaldo said. "Obviously this is a completely different world. My world is playing soccer but we all know that life won't always be like this," said Ronaldo.

Grupo Pestana is Portugal's biggest hotel operator. It is based in Madeira, where Ronaldo was born.

www.pestana.com

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