Azora continues to grow its hotel portfolio through Azora European Hotel & Lodging, with the purchase of the 5-star Luxury Vilalara Thalassa Resort in the Portuguese region of the Algarve.
It is an emblematic asset in the Algarve located at the foot of Praia das Gaivotas in the municipality of Porches. The hotel has 118 rooms and suites and is “considered one of the best resorts in Portugal for its privileged location and quality of service,” explains the company, which points out that it is operated by the Blue & Green company.
The acquisition of Hotel Vilalara reinforces the Fund’s privileged position in the Algarve, with three unique and irreplicable assets, leaders in the 5-star segment in their respective locations.
The Fund, which was launched in July 2020 after a first closing with € 680 million of capital commitments, has a total investment capacity of more than € 1.5 billion to invest in leisure hotel opportunities across Europe, mainly in sun and beach assets.
This operation is the fourth carried out by the Fund since its constitution, after the acquisition of the seed portfolio (made up of 10 resort hotels and 4 urban hotels throughout Europe), the Giverola Resort, a hotel on the Costa Brava and the purchase of Tivoli Vilamoura and Tivoli Carvoeiro in the Algarve.
“The operation of the Hotel Vilalara reinforces our conviction about the recovery of tourism in Europe and the unique positioning of the Algarve to be a protagonist in this recovery”, explains Concha Osácar, co-founder partner of Azora.
The directive underlines that from Azora, “we remain convinced of the attractiveness of this region and the Portuguese market and we want to continue working very actively with hotel groups”.
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