Joint venture with Ronaldo spurs Portugal hotel chain's overseas growth

Lisbon

PORTUGUESE football star Cristiano Ronaldo has teamed up with his country's top hotel chain, Pestana, in a joint venture that his partner hopes will help open new markets in Asia and reinforce its expansion into Spain and the United States.

Ronaldo is following the footsteps of other sports stars who have invested in hotels, including tennis players Andy Murray and Andre Agassi and soccer's Gary Neville and Ryan Giggs - but Ronaldo's venture stands out for its global ambition.

He and Pestana plan to open two hotels under the Pestana CR7 brand - CR7 is a trademark combination of Ronaldo's initials and jersey number - by end-2018, having already tested the market at home in Portugal with an initi…