Soccer player Cristiano Ronaldo has recently announced investing over $40 million (£54m) for the project of his 4 hotels around the world. The 30 year old Real Madrid forwarder plans to name the hotels after his name CR7. His first hotel is all set to open this summer (somewhere in between December to February) in Portugal’s largest city of Funchal in Madeira in partnership with the biggest Portuguese tourism & leisure group with it’s beautiful hotel chain in Pestana Hotels and Resorts Group, owned by Jose Pestana and his brother Manuel Pestana.
The former Manchester United player announced on December 17th : “Today I partner with the Pestana Hotels for the construction of four new hotels, which is a dream come true! #TimeOfYourLife. He happily told the press conference in Lisbon “My world is that of football, but that fact is that life changes and I always wanted to own a hotel of my own.” His new hotels will be based in his home town Portugal’s two cities Lisbon and Funchal, the remaining two in Madrid and New York. Ronaldo is 100% sure that this investment of his will surely be one of the safest deals that ever capitalised on for his future.”
“He may be young, but he feels very fulfilled, so this project is exciting for him because his roots are in Madeira and that’s where his first hotel will be.” Wondering how the idea of launching a hotel first striked his mind? While having a conversation with Dionisio Pestana, chief executive son of the Pestana founder hotels. One thing led to another and he decided to have business with him because Dionisio happens to be number 1 in the hotel’s business, while Cristiano is number 1 in football.
Is it safe to invest?
It may not always be safe to invest your money, but if you invest it in the right place without the worry of losing it, then it definitely won’t be a problem for the investors. But before investing your huge amount of money, make sure you do a little bit of investigation. You wouldn’t want to invest your money if your business will likely fail and you will have to suffer for it.
5 Reasons why Hotel Invesments Fail
- Aligning with the wrong people
- Weak location
- Cost Overruns
- Market cycle burns
- Infelexible Management