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António Pereira, representing the Real Group in the Algarve, explained that Olhão was the chosen location as tourists are increasingly looking for places where the beach is not the main purpose for travelling. He added that the new developments are looking to take advantage of the Ria Formosa’s potential and also the council’s gastronomy.

The project includes 144 rooms in the hotel and 80 luxury apartments in the residences.

Francisco Leal, Olhão Mayor, believes this investment is fundamental for the council’s economy to bounce back, adding that the 1,100 new beds planned by the council “will not be enough for the demand.”

The new investment “includes the renovation of the marina riverside and the Ria Formosa Polis project” said the Mayor, adding that when the project is concluded “it will be an international environmental reference point.”

Speaking of future projects for the Real chain, in 2012 a new boutique hotel will be inaugurated in Carcavelos, at Quinta do Barão, as well as two new hotels in the Alentejo.

The Real Group currently has seven hotels in Lisbon and the Algarve.