Legendary Soccer superstar Cristiano Ronaldo has invested more than $40 million into a range of hotels in Madeira, Lisbon, Madrid and New York called CR7 after his successful underwear, footwear and fragrance companies.
The joint venture, which is co-owned by both Ronaldo and Pestana Hotels, will be managed by The Pestana Hotel Group and will be located in four spectacular destinations; Lisbon (in the Historic Downtown), Madrid (on the Gran Vía) Madeira Funchal (fronting the Cruise Harbor) and New York (steps from Times Square).
Dionísio Pestana, owner and chairman of Pestana Hotel Group, and Cristiano Ronaldo were both born and raised in Madeira, and their professional relationship is based on years of friendship.
The first hotel opens this weekend on the island of Madeira, southwest of Portugal. Lisbon will open in August, with a New York Times NYT +1.80% Square location in 2017, and a Madrid hotel scheduled to open on the cities most famous shopping street in 2019. Despite press reports, he did not buy a hotel in Monte Carlo with Donald Trump and will focus on the New York property opening for next year.
Ronaldo is excited about his new hospitality venture and says, ”My job is to play football, but life won’t always be like this. I have to dedicate myself to this new project and I have the best team in the world around me. I am young but I feel very fulfilled so this project is exciting for me. I’m thinking about my future, and my son and my family.”
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