Sonae Capital to open new hotel in Porto

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Sonae Capital is to open a new hotel on Porto’s Avenida dos Aliados in 2021.

Little is known about the project except it will open its doors in the first half of 2021, will have 70 rooms, bar and restaurant services, meeting rooms with natural light, an outdoor pool and gym and will contribute to “bolstering the boutique hotel offer in urban destinations,” states Sonae Capital in a communiqué.
Currently, the company has six hotel units under its management: three in Porto (Porto Palácio Hotel, The Artist and The House), two on the Tróia Peninsula (Aqualuz Tróia and Tróia Residence) and one in the Algarve (Aqualuz Suite Hotel Lagos – bought this year).
In addition to this, it has underway the development of a new Lisbon hotel unit housed within the Santa Apolónia Station building.
In January last year, the company won the concession to transform part of the property into a four-star hotel with a €12 million investment. That hotel will have 100 rooms and should open in the second quarter of 2021.
Sonae Capital’s hotel business arm was the part of its business that enjoyed most growth in 2019, having registered an increase of 16.4% in business turnover to €27.7 million.