Brief: Sonae's Sierra And PGIM Launch Hotel Joint Venture, Announce Acquisition Of First Hotel In Porto
09/04/2024 13:42
April 9 (Reuters) - Sonae's Sierra:
* SONAE SIERRA AND PGIM LAUNCH HOTEL JOINT VENTURE AND
ANNOUNCE
ACQUISITION OF FIRST HOTEL IN PORTO, PORTUGAL
* JOINT VENTURE MARKS ANOTHER STEP IN SIERRA'S
DIVERSIFICATION
STRATEGY AND AIMS TO ACHIEVE GROSS ASSET VALUE (GAV) OF 200
MILLION EUROS
* WILL SEEK TO ACQUIRE AND ACTIVELY MANAGE HOTELS IN
CONSOLIDATED
LEISURE DESTINATIONS, JOINING FORCES WITH OPERATIONAL MANAGEMENT
TEAM OF IBERIAN HOSPITALITY SOLUTIONS
* FIRST ACQUISITION IS SCHEDULED TO OPEN IN THE SECOND HALF
OF
2024
Source text: [https://tinyurl.com/5n99au2s]
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