Chitra & Roman Stern – A golden year of recognition
It has been an excellent year for hospitality and education entrepreneurs Chitra and Roman Stern, who were recognised not only by the Portuguese State for their contributions to the Portuguese economy but also internationally for excellence in residential tourism developments.
Text: Chris Graeme Photos: supplied
Entrepreneur Chitra Stern, co-founder, CEO and owner of the Elegant Group (Martinhal Family Hotels & Resorts), and founder of the United Lisbon International School (ULIS) and Edu Hub, enjoyed a well-deserved year of recognition in 2024.
First up, the hotelier and tourism developer was awarded the prestigious ‘Medal of Merit for Tourism’ by the Portuguese government.
The silver Medal of Merit recognises individuals who have made outstanding contributions to the tourism sector and economy in Portugal, acknowledging their dedication and impact on the development of the industry in the country.
The medal, which is the equivalent of the OBE in the United Kingdom, was presented by the Minister of the Economy, Pedro Reis, and the Secretary of State for Tourism, Pedro Machado, at the 7th Confederation of Portuguese Tourism Summit to Chitra’s husband, Swiss investor and entrepreneur Roman Stern, CMO of the Elegant Group.
Lost for words
“I don’t have words except that it is an honour and privilege to receive this commendation from the Portuguese government as a foreigner. This medal represents not only a celebration of our past achievements and dedication, but also a responsibility for the future. I do not underestimate this. Thank you to Portugal and her people.”
She added: “We are committed to continuing our contribution to the Portuguese economy in a sustainable and responsible way. We continue to believe in Portugal and her potential!”
The Sterns have developed a number of tourism and education real estate assets in Portugal, including the Martinhal Sagres Beach Family Hotel, Martinhal Residences Parque das Nações, Lisbon, Martinhal Chiado Luxury Hotel and Apartments, Lisbon, the United Lisbon International School (ULIS) & Edu Hub, as well as developing the Ageas Building in Parque das Nações for the insurer Ageas.
Next up, the Sterns triumphed with major wins at the prestigious European Property Awards 2024-2025 – the most acclaimed industry award and recognised as a mark of excellence for property professionals.
Martinhal Residences received the award for Residential Development 20+ Units Portugal; and Martinhal Lisbon Oriente was awarded Best New Hotel Construction and Design Portugal, and is also in the running for Best New Hotel Construction and Design in Europe.
Co-founders of Martinhal Hotels and Resorts, Chitra and Roman Stern, said: “It was our vision to take our 20 years of development and luxury family hospitality experience in Portugal to create a forward-looking branded residences concept for Lisbon. We would like to thank our talented Portuguese team, including multi award-winning architects led by Eduardo Capinha Lopes; Grupo San Jose for construction; Eduardo Capinha Lopes and Romano Design for interiors; and landscape architect João Ceregeiro, all supported by our first-rate in-house design team, for their commitment to making this project such a success.
“We were proud that we had already sold 90% off plan even during a challenging global environment. Recognising the huge potential of Parque das Nações in Lisbon Oriente has been a huge driver for the success of this project and others followed. It’s now one of the most dynamic neighbourhoods in the city and continues to go from strength to strength,” Chitra said.
As for the Medal of Merit award, Chitra Stern told Essential Business: “I got a call from the office of the Secretary of State of Tourism who congratulated me on this medal. I felt honoured and I was a bit lost for words. And I thanked the government profusely for this honour.”
A strong partnership
Unfortunately, Chitra had had surgery and couldn’t receive the award personally from the Secretary of State, the minister of economy and the president of Turismo de Portugal, “and so Roman represented me very well!”
“We are definitely a partnership and we share our business successes. And I definitely share this success with him and our team at Martinhal and all our stakeholders.
“However, I think this award went beyond the business contributions and recognises the pro bono work I’ve done for this sector by contributing time and effort to various think-tanks and task forces over the years”, she said.
“As a foreign investor in Portugal in this sector, I’ve also been called upon to give my testimonial for investment in Portugal at events and official communications by the government and associated bodies, which I have obviously gladly done”, Chitra added.
“I am still a firm believer in Portugal, her people and her future potential. There is still so much more to achieve and do here!”
As for new projects on the horizon, Chitra Stern shared that they are building a hybrid apart-hotel with student accommodation – small and agile units that can be used for the students of ULIS for boarding but also by national and international students from local universities. There will be short and medium-term stays also for teachers and staff and professionals at the Edu Hub.
“Overall, I think we have succeeded in the perfect hybrid environment for our residents, leisure and corporate travellers and compelling options for long city stays. It’s an honour to receive these recognitions, crucially across both residential for Martinhal Residences and hospitality for Martinhal Lisbon Oriente,” Chitra Stern concluded.
