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Real Madrid footballer Cristiano Ronaldo has signed a deal with Portuguese hotel group Pestana to launch four international hotels.
Ronaldo has signed a deal with Dionísio Pestana, the owner and chairman of Pestana Hotel Group, to open the four boutique hotels, which will cost £55m. The hotels will be co-owned by Ronaldo and Pestana, and will be managed by The Pestana Hotel Group.
Two of the hotels will be located in Portugal, in Lisbon and Funchal, while the other two will open in Madrid and in New York, close to the iconic Times Square. Each property will have 100 rooms and will open within the next two years.
The first of the hotels is scheduled to open in Funchal on the island of Madeira in the summer of 2016. The Lisbon hotel will follow in late 2016, while the Madrid and New York hotels are due to open in 2017.
Known to many as the ‘best footballer in the world’, Ronaldo’s CR7 brand is the main inspiration behind the four hotels, which will be boutique in style and will appeal to the modern day millennial traveler.
Ronaldo said: "I’m certain that this investment is surely one of the safest deals that I can capitalise on for my future."
He is not the first famous footballer to invest in the hotel industry, and this announcement comes only months after Ryan Giggs and Gary Neville's Hotel Football opened in Manchester.
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