The Mercan group, which manages several tourist developments, purchased the Hotel California Urban Beach, in Albufeira, in an investment of more than 13 million euros, which will guarantee 31 jobs, according to a statement.
According to the same note, the group reinforced «its investment in the Algarve with the acquisition of the Hotel California Urban Beach, located at Praia dos Pescadores, in Albufeira», and the development «has been under the management of the AHM – Ace Hospitality Management, a company that belongs to the Mercan Group, responsible for the investment and development of hotel assets».
According to the statement, the acquisition of the hotel «was completed at the end of the last month of 2023, but only now, with the conclusion of the transition period, does the Praia dos Pescadores hotel become officially managed by the Mercan Group».
The investment, worth more than 13 million euros, includes «rehabilitation works on the building» that «allow California Urban Beach to consolidate 31 jobs» and «reinforces the group's confidence in the hotel potential of the Algarve region».
In the region, the company already has «the Hotel Indigo Faro Ribeirinha, the Lagos Marina Hotel, Curio Collection by Hilton and Hilton Garden Inn Lagos, the Marriott Lagos and the Hard Rock Hotel Algarve, located in Portimão, and which is scheduled to open in 2026», he indicated.
The group operates in the management and development of hotel assets in Portugal and «currently has 31 projects in various locations across the country such as Porto, Vila Nova de Gaia, Matosinhos, Lisbon, Amarante, Santiago do Cacém, Évora, Beja, Algarve and Madeira» .
The company is in more than 30 countries and has been in Portugal since 2015.
Comments