Elegant Group sells Martinhal Cascais
The Elegant Group, owned and managed by Roman and Chitra Stern, have sold the Martinhal Cascais hotel to focus on diversifying their existing product offer and new businesses in Portugal.
The Pinto Coelho family, which used to own the development and has the brands Onyria Golf Resorts, Onyria Quinta da Marinha Hotel, Onyria Quinta da Marinha Golf, and the restaurant Monte Mar have bought the hotel and reintegrated it into their portfolio of businesses at Quinta da Marinha.
In October, Chitra and Roman Stern accepted the offer to buy the former Onyria and the handover of the property is slated for 8 January, 2023.
The Pinto Coelho family have owned the golf course since 1985 and the Quinta da Marinha hotel since 1999.
The hotel will continue to be a five-star hotel.
The Martinhal Group has diversified in recent years, not just in the area of Branded Residences (Martinhal Residences), but also in private education with the United Lisbon International School and Edu Hub, and will continue to seek out other opportunities for the Martinhal brand, as well as other real estate projects in Portugal.
The group says it has no plans to sell any of its other properties, and emphasis that it continues to believe in the brand that it created 12 years ago, and in the future of tourism in Portugal.