AFA Group began operating in the hospitality sector in 2004 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 TUI Sensimar 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, under the Savoy Signature name, the group owns six hotels on the island of Madeira with a total of 1,277 rooms (2,554 beds) and 820 employees.
Savoy Palace – Tribute Cosmopolitan Resort, the only member of The Leading Hotels of the World in Madeira
Royal Savoy – Heritage Sea Resort
Saccharum – Hedonist Design Resort
Calheta Beach – Fine Sand All-Inclusive Resort
Gardens – Panoramic Adults-Only Hotel
Next – Connected Sea Hotel (opening soon)
In 2019, AFA Group had total turnover of €44,735,885 in the hospitality sector.