Cape Verdes hotel chain Key Flores has agreed to pay about $9 million for the hotel it owns in the town of Key Flores in central Portugal, which it bought from the late businessman Carlos Varela.
The news came on Friday as the former Portuguese prime minister announced the end of his three-year term and the appointment of an interim president, Paulo Vieira, for a period of two years.
Key Flores is owned by the hotel group Varena, which is owned mainly by Portugal’s biggest bank, Banco B.V. Vieira is the brother of former Portuguese president Jose Luis Vieira.
He was in charge of Key Resorts until the beginning of 2017, when he was sacked by Portugal after the country fell out with the European Union.
He had been working for the group for almost five years.
He will remain chief executive officer and will be responsible for running Key Resours until the end.
Key Reserves has not paid for the Key Flores and other properties that Varema owned until now.
Key Floshes owner Carlos Vantas announced his retirement in a speech on Friday.
He said that his family’s stake in Key Flores would continue.
“The key point is that we have to stay here and continue to develop this hotel business,” he said.
He also said that he would donate all of his earnings to the Key Flosses charity.
“I’m sorry to be leaving the Key Resort family, but I have to do this,” he told the crowd of reporters.
He thanked the Portuguese people for their support.
Vieiro, who was once known as Carlos Virela and served as prime minister from 2005 to 2007, was appointed to the post in January 2017.
He won the presidency in October 2015 after serving as prime minster since 2014.
In a statement, Vieira said the Key FLoshes and the Key Hotel would “continue to grow together and support each other, in the interests of the people of Portugal and the Portuguese country.”
The company has been in talks with other property owners in Portugal about buying their properties.
In recent years, the company has sought to build several new properties in central and eastern Portugal, including in Lisbon and the port city of Lisbon.