PARIS INN BUYS MONUMENTAL PALACE HOTEL IN PORTO, PORTUGAL FOR €40 MILLION 

Portugese developer Mario Fereira has announced that he has sold the 76-room Monumental Palace Hotel in Porto, Portugal, to the France-based Paris Inn Group for €40 million (€526,000 per room). The five-star hotel currently under development on Porto’s Avenida dos Aliados, will be renamed Maison Albar Hotel Porto Monumental and is expected to open next September.

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