Cristiano Ronaldo explores Riyadh for potential Pestana CR7 hotel expansion

Posted : 29 November 2023

Football superstar Cristiano Ronaldo is reportedly in talks to expand his hotel brand, Pestana CR7, to Riyadh as part of Saudi Arabia's tourism expansion efforts. This potential hotel in Riyadh would mark the sixth location for the Pestana CR7 chain, joining existing establishments in Lisbon, Madeira, Madrid, New York City, and Marrakech.
The Pestana CR7 hotel chain is a joint venture between Cristiano Ronaldo and the Pestana Hotel Group, with the football icon holding a 50% stake in the venture. Reports indicate that Ronaldo has invested approximately €40 million into this ambitious hotel project. Athletes like Ronaldo, Messi, and Rafa Nadal have increasingly ventured into the hospitality industry, leveraging their extensive travel experiences to create their own hotel brands.
In addition to the potential expansion to Riyadh, Ronaldo and Pestana have recently collaborated on another project – Pestana Residences CR7. This development consists of 88 apartments located in Ronaldo's hometown of Madeira, representing a $50 million euro investment with a 50-50 partnership. The residences will be constructed on land already owned and managed by Ronaldo at Praia Formosa, further showcasing the football star's commitment to his roots.
This move reflects a growing trend among sports celebrities who use their expertise and fame to venture into the hospitality sector, creating unique brands that offer a personalized touch to travelers around the world.


Hot Topics

close button
Please fill captcha :