Ronaldo to open four boutique hotels
Superstar footballer Cristiano Ronaldo is to develop his own hotel brand with the intention of opening four boutique properties, including one in New York.
The Real Madrid striker has pumped more than $40 million into a partnership with hotelier Dionisio Pestana, chief executive of the Pestana Hotel Group.
They will develop a new brand which will bear Portuguese Ronaldo’s trademarked CR7 branding.
One hotel is planned for Funchal on the island of Madeira, one in Lisbon and another in Madrid in Spain.
The New York property is expected to open in 2017.
Ronaldo, who previously played for Manchester United, bought an apartment in Trump Tower on Fifth Avenue earlier this year for a reported $18.5 million.
"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," Ronaldo told reporters.
"Obviously this is a completely different world. My world is playing soccer but we all know that life won’t always be like this."
The player’s $40 million stake will give him a 50% shareholding in the new business.
Madeira-based Pestana is Portugal’s biggest hospitality company with more than 90 hotels under management in Europe, South America, and Africa.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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