For decades it was the headquarters of the major newspaper in Porto, the second biggest city in Portugal. Now, the 1960s head office building of Jornal de Noticias will become a Marriott Autograph Collection hotel.
The deal is scheduled to be signed today, revealed businessman, Kevin Ho King Lun, to Macau News Agency (MNA).
“It’s an investment of 35 to 40 million euros (MOP280 to 320 million) for this 213 hotel room investment”, said the KNJ Investment partner who became a main shareholder in Global Media in 2017, one of the main media groups in Portugal.
Thus, the name chosen for the new hotel has now been revealed to MNA: Hotel Journal, to honour the property’s tradition, but also to perpetuate the building’s image as an iconic skyscraper in the heart of Porto.
“It’s not only tourism that is booming in Portugal, it’s all the economy and one of the most innovative hubs in Europe. The country will even do better in the near future”, Mr. Ho told MNA.
KNJ is also to invest in a luxury residential project in the Foz do Douro area of Porto, named Torre Miramar, and have “other projects” in the pipeline which are targeted to “create around 1,500 jobs in the next five years”, he said.
Mr. Ho had previously expressed interest in reconverting a warehouse in the Vila Nova de Gaia region, next to Porto, into a startup incubator to connect Portuguese and Guangdong Province companies, with the Industry and Commerce Association of Macau and the Macau Youth Entrepreneur Association, having signed an agreement with the Porto authorities last year to help develop the centre.