Celebrating the opening of Aethos Ericeira on the 24th of September marked a milestone for Limestone Capital and Aethos. It was the first-ever project acquired by Limestone back in 2018 and is now our 4th official operating hotel.
When we laid our eyes on the property for the first time it was a derelict ruin, a concrete block which has been on the market for more than 10 years, untouched by anyone. Despite its condition, we immediately saw the potential of this incredible place.
Construction during Covid was anything but straightforward but after four years of hard work we made this project happen and were able to give soul to this once meaningless property. Seeing the positive press coverage over the past months, ranging from the “Financial Times” to “Bloomberg” or “Architectural Digest”, reflects the success we had in developing this property. But more importantly, receiving positive feedback from investors, friends and family has been incredibly rewarding. The fact that we’re being cash flow positive in the first two months of operating is the icing on the cake and reaffirms that we made the right choices.
Thank you to everyone who attended our opening party. Thank you to the authorities of Mafra for supporting us in our mission. Thank you to the entire team at Limestone and Aethos. And thank you to all our amazing guests and the local community who are the true soul of this building.