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JLL seeks opportunities in Ibiza for the Pestana Hotel Group

The Pestana Hotel Group, the biggest Portuguese hotel group attributed a procurement mandate to the Spanish subsidiary JLL Hotels & Hospitality Group to identify new opportunities and business partners in Ibiza.

The coming of the group to the Spanish island will be under the Pestana CR7 Lifestyle Hotels brand, held in partnership with the footballer Cristiano Ronaldo, and will be achieved by means of the management and/or renting of assets held by third parties.

Officialised at the end of 2015, the joint venture between the best football player in the world and the Pestana Hotel Group was created to develop a group of four hotels in trendy locations, with the operational management of the units to be the responsibility of the Portuguese hotel group.

At present, there are already two hotels in operation, both in Portugal: the Pestana CR7 Funchal, which opened last summer in the actual port of Funchal, on the island of Madeira, and the Pestana CR7 Lisboa, officially inaugurated in October in one of the ‘coolest’ capitals in Europe. As well as these, there are two other conformed locations: Madrid and New York where the joint-venture projects are already under way with the same boutique and lifestyle concept inspired by the CR7 brand, with the object of becoming regarded as ‘trendsetters’.

Ibiza is now the next location being looked at by the group, for which JLL has been contracted to undertake research and to make a selection of possible independent hotels either already built or under construction, with the right profile for Pestana CR7 brand. The biggest areas of interest are the city of Ibiza, Santa Eulalia del Rio and Playa d`en Bossa, after which JLL will mediate the business discussion between the Pestana CR7 brand and the present owners, exploring several business models, including management, renting or as a joint-venture.

For José Roquette, Chief Development Officer of the Pestana Hotel Group, “JLL is the right partner to identify the best opportunities in Ibiza on this occasion and will be the preferred point of contact for owners who might be interested in looking at a partnership with us.”  Luis Arsuaga Rato, Executive Vice-President - España & Portugal at JLL, stresses  “Ibiza is a natural destination for the Pestana CR7 Lifestyle Hotels brand,   which invests in symbolic locations and in solid tourist destinations.”