He added to his property portfolio further by buying the hotel, which overlooks the sea on Porto Santo, an island near his native Madeira, according to The Sun.
A Manchester United insider reportedly told the newspaper: "If he carries on like this he'll have more properties than a Monopoly board."
Ronaldo already owns a villa and a flat near Lisbon, has bought a house in Madeira for his mum and invested in boutiques for his sister.
He is also set to build a £6.1m home in Portugal.
Last month it emerged that Cristiano Ronaldo had reportedly registered 'CR9' as a trademark - as sources in Spain suggest he has been promised the number 9 shirt by Real Madrid.
The Manchester United star had already claimed CR7 for use on merchandise and his agent Jorge Mendes registered the new motif with the National Institute of Industrial Property in Lisbon.
Mendes is said to have been in talks with Madrid president Ramon Calderon over a £77m summer move to the Bernabeu.