Construction starts in September on the new hotel in Setúbal operated by the Goldman Sachs chain


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Portuguese developer Grupo Mais starts building a new hotel in Setúbal in September, which will have 120 rooms in a six-storey building. Hotel will be operated by the French chain B&B Hotels.

The construction of the new hotel in Setúbal, which will be located on Estrada das Machadas, will start in September, revealed to ECO the executive president of Grupo Mais, owner of the new hotel unit that will be operated by Goldman Sachs’ B&B Hotels chain.

According to Rafael Coelho, the Setúbal City Council recently gave the green light to the licensing for the construction of the hotel that will provide 120 rooms spread over six floors. Therefore, the businessman who leads the Portuguese mediator and construction company, based in Ourém, tells ECO, the works will start “in early September” and the hotel unit should open doors at the end of 2024.

Setúbal has not seen the construction of a new hotel from scratch for at least ten years. The building – which will be located just outside the city next to the National Road 10 and will have a gross construction area of 3,591.30 square meters – will also have a basement for parking and a floor with technical valences.

As Negócios advanced, the new hotel unit will have an investment of 8.5 million euros and will be operated by the French chain B&B Hotels, which since 2019 has Goldman Sachs as its majority shareholder, with a concession contract signed for a period of 15 years, which can be renewed for another 15 years.

In Setúbal this will be the second hotel unit managed by the B&B Hotels chain after in 2021 it took over the management of the former Hotel do Sado, with 66 rooms and a terrace with a 360º view over the bay of Setúbal, Arrábida and the Troia Peninsula.

According to the architectural project for the building of the new hotel, approved on July 6, 2022 by the Setúbal City Council, taking into account that it is a building with a total construction area of more than 1,500 square meters, in view of the provisions of the Building and Urbanization Regulation of the Municipality of Setúbal, Grupo Mais will have to cede to the municipality 718.26 square meters for green spaces for collective use, plus 1,795.65 square meters for public use equipment.

In addition to the hotel in Setúbal, Grupo Mais is building a hotel in Leiria with 120 rooms that should open “at the end of this year”, the leader of the Portuguese promoter and construction company told ECO, which between these two projects totals a total investment of around 15 million euros.

The French chain B&B Hotels has 600 units in Europe and has been betting on Portugal where it is already managing 12 hotel units from north to south of the country. The chain’s plans for “the coming years” is to add another “eight units” in Portugal.

Moti Shabi
Moti Shabi
Moti Shabi

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