The transaction includes the acquisition of the 5-star Marriott Praia d’El Rey Hotel, two leading 18-hole golf courses and the management of a large rental pool of apartments in Praia d’El Rey.
Purchase complements Azora’s current portfolio of 6 leading hotels in Portugal, including Vilalara, Tivoli Vilamoura, Tivoli Carvoeiro, Tivoli Alvor, The Lodge Hotel and the future opening of Hotel das Luzes, and highlights Azora’s strong conviction for the Portuguese tourism sector.
Azora will continue strengthening the positioning and quality of the Hotel and the golf courses with further investments and operational improvements.
Source: azore.com on the 29th of May, 2024
https://www.azora.com/en/blog/azora-further-strenghtens-its-hotel-portoflio-in-portugal-with-the-acquisition-of-praia-del-rey-hotel-5-golf-resort/#:~:text=Madrid%2C%2029%20May%202024%20%E2%80%93%20Azora,%2C%20which%20comprises%3A%20(i)