Summary:
Arrow Group acquires Monte Rei Golf & Country Club in Algarve.
Deal includes control of seven companies in tourism and golf management.
Arrow already manages Norfin and Whitestar in Portugal.
Recent acquisition of Anantara Vilamoura Resort from Minor.
Previous purchase of Palmares Ocean Living & Golf for €110 million.
Arrow Group Expands Its Algarve Holdings
The Arrow Group has secured an agreement to purchase the Monte Rei Golf & Country Club, located in Vila Nova de Cacela, Algarve. This announcement was made public through a notification on the website of the Competition Authority. The financial details of the acquisition remain undisclosed.
This acquisition involves taking exclusive control of seven companies that are focused on the operation and management of various tourist accommodations and a golf course.
In Portugal, the Arrow Group already oversees Norfin, Whitestar, and several hotel units and golf courses. Recently, they also acquired the five-star Anantara Vilamoura Resort from the Thai company Minor.
Earlier in 2023, the group had made headlines by purchasing Palmares Ocean Living & Golf for approximately €110 million, as reported at the time by Negócios.
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