Room Mate Hotels has signed its second hotel in Portugal, in Porto, acquired by a fund managed by Caler Advisory.
The group has eight hotels in its pipeline, with a further 10 in due diligence.
Located on Rua Cedofeita, one of the main shopping streets in Porto, the hotel, which was due to open at the end of 2022, will have 78 rooms, a garden with an outdoor swimming pool, terrace, banquet room, gym and spa.
Kike Sarasola, president & founder, Room Mate Hotels, said: "I am very excited to finally open in Portugal, the Porto project and the hotel we are building in Lisbon are a marvel. We had been looking for a hotel in Porto for some time and when we saw the interior and the impressive garden it was clear that it had to be a Room Mate hotel.”
The company said that it was currently finalising its reopening plan.
Sarasola said: "Tourism is the engine of our economy and generator of employment, if it is helped a little the recovery is assured".
He added that reservations at the chain level had grown by 50% since last week. Within Spain, the destinations that had seen a significant improvement since the government's announcement were Malaga and San Sebastian.