AFA Group began operating in the hospitality sector in 1999 with the construction of the Calheta Beach hotel.

At the end of 2015, AFA Group, which already owned Saccharum and Calheta Beach, both located in Calheta, acquired SIET SAVOY, S.A., which includes the Royal Savoy and Gardens and the Savoy Palace construction project. The group’s expansion into the sector entered a new phase at the end of 2017 with the acquisition of Madeira Regency Club, currently known as NEXT hotel.

Currently, under the Savoy Signature brand, the group owns and operates six hotels on the island of Madeira with a total of 1300 rooms (2600 beds) and 1300 employees.

In 2021, the AFA Group had total turnover of 40 million euros in the hospitality sector.