According the Portugal News, the investment of 13 million euros, which includes renovation work on the building, will guarantee 31 jobs.
With this acquisition, the group now has seven hotels in the Algarve, six of which are under development.
“This investment by the Mercan Group reinforces the group's confidence in the hotel potential of the Algarve region, where it already has the Hotel Indigo Faro Ribeirinha, the Lagos Marina Hotel, Curio Collection by Hilton and Hilton Garden Inn Lagos, the Marriott Lagos and the Hard Rock Hotel Algarve, located in Portimão, and scheduled to open in 2026,” highlights the Canadian group, in a statement.
The acquisition of the Hotel Califórnia Urban Beach by the Mercan Group was completed at the end of December last year, but only now, with the conclusion of the transition period, does the Praia dos Pescadores hotel become officially managed by the Mercan Group. Since the beginning of the month, the hotel has been under the management of Ace Hospitality Management (AHM), a company that is part of the Group.
With this acquisition, the group now has seven hotels in the Algarve, six of which are under development.
“This investment by the Mercan Group reinforces the group's confidence in the hotel potential of the Algarve region, where it already has the Hotel Indigo Faro Ribeirinha, the Lagos Marina Hotel, Curio Collection by Hilton and Hilton Garden Inn Lagos, the Marriott Lagos and the Hard Rock Hotel Algarve, located in Portimão, and scheduled to open in 2026,” highlights the Canadian group, in a statement.
The acquisition of the Hotel Califórnia Urban Beach by the Mercan Group was completed at the end of December last year, but only now, with the conclusion of the transition period, does the Praia dos Pescadores hotel become officially managed by the Mercan Group. Since the beginning of the month, the hotel has been under the management of Ace Hospitality Management (AHM), a company that is part of the Group.
