AHM Group beefs up presence in Portugal

 In Hotel, News, Tourism

Hotel management group AHM, which is owned by the Canadian group Mercan, is to strengthen its presence in Portugal with a total €1.2Bn over three years bringing the number of hotels it manages to 30.

This is according to the online news source ECO which interviewed the company’s CEO, Mariano Faz. In 2023 AHM posted a turnover of €25 million while this year profits of €35 million are expected.

In April the company added a new hotel to its portfolio — the Hotel California Urban Beach in Albufeira purchased by Mercan at the end of last year — the company should close the year with the management of nine new hotels, with 900 rooms, and expects to add a further 30 hotels over the next three years managed locally for AHM through ACE Hospitality Management.

Mariano Faz told the online news source that Portugal was “in fashion” and that the company would continue to “invest in Portugal and pinpoint different opportunities”, adding that tourism in Portugal had gone through “an exponential revolution” was “highly sought after” as a destination, and had “great places to discover”.