Portugal news – Mercan Properties invests 107.8 million euros to develop hotels in Lagos, as part of their urban rehabilitation project.
The tourism development project in Lagos will give rise to two new hotels, namely the five-star Lagos Marina Hotel - Curio Collection by Hilton, and the four-star Hilton Garden Inn Lagos.
Mercan Properties also has four other hotels under development in Portugal’s Algarve, namely the Alvor Beach Hotel, the Hotel Indigo Faro Ribeirinha, the Marriott Lagos and the Hard Rock Hotel Algarve.
With the new tourism development project in Lagos, the Mercan Properties Group is strengthening its partnership with international hotel brand Hilton, following the successful launches of the Sé Catedral Hotel Porto - Tapestry Collection by Hilton, and the Hilton Garden Inn Évora.
While Canadian group Mercan Properties already has a chain of hotels in Portugal, the group is focusing on the Algarve where it already owns Hotel Califórnia Urban Beach in Albufeira.
Mercan Properties started investing in Portugal’s tourism industry since 2015, and since then, its overall investment in Portugal has reached around 1.2 billion euros, through 32 projects in the tourism and hotel sector spread across different regions of Portugal. The group has also contributed to linking Portugal’s hotel sector to international luxury brands such as Hilton, Marriott and IHG.