Portuguese Hotel Group Plans on New Investments in Brazil

Portugal´s Dorisol Hotels wants to be running ten lodgings in Brazil by the year 2015, the company´s President and CEO Antonio Fernandez said in an interview published in Diario Economico.

Dorisol has already bought the Recife Sheraton Hotel in that Brazilian city and is gunning for management of the Esplanada Resort, also in Recife.

“These two operations amount to a $25 million operation volume through management contracts,” Mr. Fernandez explained.

The Dorisol Group, based on Madeira Island, is taking aim at the resort segment in the Brazilian states of Ceara and Pernambuco.

Mr. Fernandez commented that “northeast Brazil represents a destination that resembles the Caribbean very much, though it´s fortunately closer to Europe.”

The group is currently running five hotels on Madeira Island with a volume of operations that´s slated to grow by as much as 15 percent on a yearly basis.