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Solverde - Sociedade de Investimentos Turísticos da Costa
Verde, S.A. with its headquarters located on the beachfront, in the
resort town of Espinho, lies just 17 kilometers south of the historic
city of Oporto, home to the famous Port wine.
Founded in 1972, the Solverde Group consists of four casinos, two five-star
hotels, and one aparthotel. These hotels and casinos are located in both
the Algarve and Espinho regions.
Company revenue went from the PTE 6 billion mark in 1995 to 9.5 billion
in 1996, going to the11 billion mark in 1997. In 1998, the company’s
sales reached 12.7 billion. In 1999, sales surpassed 14.6 billion,
a 14.8% increase from 1998. This growth is, in part, due to the recent
acquisition of the Hotel Algarve on the Praia de Rocha coastline and
the award of the gambling concessions for the Algarve Casinos in Vilamoura,
Praia de Rocha, and Montegordo. But this success story can also be
attributed to the dynamic drive of one of Portugal's leading family
enterprises - the Violas, who control the Solverde Group. They are
also the owners of the largest Portuguese producer of synthetic textiles
- Cotesi, S.A. |