The Pestana Group currently operates over 100 hotels in 16 countries, six of which are in collaboration with Cristiano Ronaldo.
“The goal is to develop more projects within this partnership, and of course, with Cristiano now based in this part of the world [as a player for Al-Nassr], it makes perfect sense for us to attempt to develop a joint venture with him,” stated the head of Development at the Pestana Group in Riyadh.
One possible entry point into this Middle Eastern country is King Salman Park, set to become the world’s largest urban park, in the Saudi capital.
The Pestana Group signed a memorandum of understanding today in Riyadh with a consortium led by the Saudi firm Retal, alongside Asasat and Bareeq (the latter from Bahrain), which is among the five finalists in a competition for a segment of the future park.
“The consortium’s proposal includes several components in which we are not involved, but it will also feature a hotel to be developed,” Roquette commented.
The Saudi authorities’ response is expected in the first quarter of 2026, and if realized, it will be the seventh Pestana CR7 hotel.
“We are optimistic because the consortium is very strong, and besides, we believe that the Pestana CR7 brand adds immense value,” he noted.
The Portuguese footballer has “global popularity,” and to invest in the Middle East, “it is the right brand, with the right partner, in the right location,” the executive emphasized.
Roquette stated that the Pestana CR7 hotels “are performing exceptionally well” and that the partnership between the hotel group and the player “is very healthy.”
If the King Salman Park project does not materialize, the memorandum of understanding signed today ensures that the real estate company Asasat will continue to explore opportunities in the country.
The hotel group, not yet present in the Middle East, also considers investment in Dubai and Abu Dhabi.
“Currently, our major development areas within the Pestana Group are Europe and the United States [with projects in Paris (Pestana CR7 brand), Brussels, and Orlando], but naturally, we don’t want to miss the chance to open a front here in the Middle East,” noted Roquette.
This initiative comes “at a time when the Pestana Group is stronger than ever.”
“We are set to achieve record-breaking exceptional results this year. It has been an excellent tourist period after COVID, and we are reaching this stage of a potential entry into the Middle East with financial strength and a fluidity we have never had before,” he commented.
Without specifying figures, as 2025 is yet to conclude, José Roquette anticipates “very good results in all regions” where the group operates.
Last year, the group recorded revenues around 651.5 million euros, a 17% increase from 2023.
The agreement was signed today during a two-day official visit by the Minister of Economy and Territorial Cohesion, Castro Almeida, to Saudi Arabia, accompanied by a business delegation of more than 50 Portuguese companies, during which he met with various members of the Saudi government.
The program also included a business forum and the meeting of the seventh Saudi Arabia-Portugal joint commission.
*** The Lusa agency traveled at the invitation of the Ministry of Economy ***
