Endutex invests in five new hotels in Portugal and Brazil

Endutex is investing 34 million euros in the hotel sector in Portugal and Brazil. The investment includes the construction of five new Moov Hotels. Three of the hotels are in Portugal and the other in southeastern Brazil.

The first project opens doors as early as June 2015, at Quinta das Sedas in Matosinhos, in an investment of around six million euros, the company announced. In 2016, the plans are to open two new units, one in Oeiras, Portugal, and the other in Curitiba, Brazil. These are projects of estimated 4.5 and 6 million euros, respectively.

In 2017, Lisbon and the Parque das Nações area will receive a new Moov Hotel (€10 million). It is also scheduled to inaugurate the second venture in Brazil, this time in Porto Alegre, in the old Astor movie theatre. The investment stands at eight million euros.

The Endutex Group was founded more than 40 years ago in Portugal and it is mainly in the textile business.

Tags: Hotels, Investment