Juan Carlos Escotet, President of Abanca, Follows in Amancio Ortega's Footsteps

The top-level tourism sector continues to attract major Galician entrepreneurs. In Portugal, several prominent names have bet on strategic investments in hotels and exclusive complexes. Among them, figures like Amancio Ortega and Juan Carlos Escotet have left their mark on this growing market.

Escotet, through Abanca, has taken a firm step in this field. The entity has consolidated its presence in the hotel sector in Porto, a key city for the high-level travel sector. This decision places him in a similar line to other Galician investors with interests in the neighboring country.

Escotet's Bet on top-level Tourism

Abanca has strengthened its presence in Portugal with the opening of the Tivoli Kopke, a top-level hotel in Porto. This establishment, located on the banks of the Douro, features 150 rooms, a gym, pools, and extensive gardens. Its design seeks to maintain the wine essence of the area, integrating with the historic wineries of the place.

The project emerged in the midst of the pandemic with an investment of 50 million euros. Although the hotel's management is in the hands of the Minor brand, the assets belong to Sogevinus, Abanca's Portuguese subsidiary. This company, specialized in the wine business, has been key in the bank's expansion in Portugal.

In addition to this hotel, Abanca has made other investments in the sector, such as in 2020, when it acquired Quinta da Boavista, one of the oldest vineyards in the entire region. Through Sogevinus, the entity also markets renowned brands of Port and Douro wines. Now, with its entry into top-level hospitality, it expands its business strategy in the country.

Following Amancio Ortega's Path

Juan Carlos Escotet's foray into this sector reflects a pattern already followed by other Galician entrepreneurs. Amancio Ortega, through Pontegadea, has been investing in real estate in Portugal for years. His portfolio includes hotels and commercial properties in key cities like Lisbon and Porto.

Sandra Ortega, daughter of the founder of Inditex, has also strongly bet on Portuguese leisure. Her Na Praia project, on the Troia peninsula, is an exclusive top-level resort in a privileged natural setting. With an investment exceeding 250 million euros, this complex will feature hotels, tourist villages, and extensive leisure facilities.

Other Galician entrepreneurs, like the Chousa family, have followed a similar strategy. Their Dmanan group has promoted real estate and hotel projects in Portugal, such as the rehabilitation of the Belomonte Palace in Porto to convert it into a five-star hotel.

With his investment in the Tivoli Kopke, Escotet joins a consolidated trend among Galician entrepreneurs. Portugal has become a strategic destination for top-level tourism, and great fortunes continue to bet on this market with increasingly ambitious projects.