Mercan Group invests €450 million in hotels in Portugal

Canada’s Mercan Group is investing €450 million in Portugal’s hospitality sector, betting on the continuing resurgence of tourism in the country.

Construction of three new hotels is already well underway and the Montreal-based company is planning to open them in time for the summer season. The €54.6 million investment will deliver a total of 262 rooms in the Holiday Inn Express Porto-Boavista, the Holiday Inn Express Évora and the Holiday Inn Beja.

Another five hotels will follow, with a total of 1,400 rooms, expanding the group’s foothold in the country where it has had a presence since 2015. They will be managed by AHM – Ace Hospitality Management, a Mercan Group subsidiary.

The group’s flagship project is the Hard Rock Hotel at Vau Beach, Portimão, in the Algarve region. The 425-room luxury hotel – 275 rooms and suites and 150 branded apartments –  will have conference facilities, multiple restaurants and swimming pools, fitness facilities, a kids’ club and direct beach access. It is set to open in 2026.

“The Hard Rock brand is consistently elevating and expanding its luxury offering”, said Jordi Vilanova, President, Mercan Properties. “We believe that this collaboration between the two brands will be a great success in Algarve and a very positive contribution to the country”.

It will be the first Hard Rock-branded hotel in the country. “We’re delighted to expand to the beautiful country of Portugal in 2026”, said Todd Hricko, Senior Vice-President & Head of global hotel development, Hard Rock International. “This new development will further extend the enhanced entertainment experience our guests know to yet another part of the world, while incorporating Portugal’s amazing culture”.

When all these projects will be completed the Mercan Group will have a portfolio of 30 hotels in different locations in Portugal, from Lisbon and Porto to the Algarve and the island of Madeira.

“Portugal continues to be of great interest for Mercan, as shown by our investments in the region”, said Vilanova. “It is undoubtedly a world-class tourist destination”.

The Mercan Group also has a presence in China, India, the United Arab Emirates and the USA.