Portugal’s Amorim Turismo invests in hotel sector in Angola

Lisbon, Portugal, 23 April – Portuguese company Amorim Turismo plans to start its internationalisation

process in Angola, where it will invest 90 million euros over the next four years, the company’s chairman

told Portuguese newspaper Expresso.

Having announced about a year ago that the company planned to build 10 hotels in Angola, Jorge Armindo

said the company had now found a local partner for the project, Imogestin, a subsidiary of Banco Africano de

Investimento (BAI) of which Angolan state oil company Sonangol is a shareholder.

By the end of 2010, Armindo said he expected to have three of the hotels concluded as part fo the partnership:

Hotel Terminus in Lobito (Benguela province), which has already been finished, another hotel with 101 room

built right next to it, as well as the future four star hotel being built in the city of Ndalatando (Kwanza Norte province).

“We have also acquired three plots of land, where four star city hotels are being built,” Armindo said noting

that the plots were located in Malange, Huambo and Soyo, in the latter case near the oil companies and near Cabinda.

As part of the partnership in Angola between Amorim Turismo and Imogestin, two companies are being set up,

one which will own the hotels and one to run them.

“In the former will be minority shareholders and in the latter we will have a majority stake,” said Armindo

noting that the process, “which will be slow” may be concluded by October.


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