Portugal’s Pestana Hotel Group made a net profit of €105 million in 2023, 4% less than the previous year, its chief executive announced today, pointing out that in 2022 the group had benefited from an extraordinary capital gain. At a meeting with journalists in Lisbon, José Theotónio said that Pestana Hotel Group’s recurring profit, i.e. not taking into account the extraordinary capital gain obtained in 2022, rose by 30% last year. During 2022, the Group sold the Pestana Blue Alvor to the Azora fund for €75 million.
