Summary:
Quinta do Lago acquires Conrad Algarve from ECS fund.
The purchase supports Denis O’Brien's investment strategy in Portugal.
No purchase price disclosed, but 70 million euros invested in improvements.
Resort features 154 suites, 80 apartments, 2 villas, and 6 restaurants and bars.
CEO Sean Moriarty calls it a transformational step for the brand.
Quinta do Lago Enhances Its Luxury Offerings
Quinta do Lago, a luxury resort located in the south of Portugal, has announced the acquisition of the Conrad Algarve from a fund managed by ECS, which is partially owned by Davidson Kempner Capital Management. This strategic move aims to bolster its portfolio in the competitive luxury market.
In a statement, the hotel unit owned by Irish entrepreneur Denis O’Brien revealed that the acquisition was supported by PLMJ, a long-time legal partner of Quinta do Lago. On the seller's side, Uría Menéndez served as legal advisor, while CBRE and Eastdil Secured facilitated the transaction.
Although the purchase price remains undisclosed, it was noted that the company has invested over 70 million euros in improvements to the resort, which is located in the Ria Formosa Natural Park.
According to Sean Moriarty, CEO of Quinta do Lago, the acquisition of this luxury resort, which features 154 suites, 80 apartments, 2 villas, and 6 restaurants and bars, including a Michelin-starred restaurant, is viewed as a "transformational step." He emphasized that bringing such a high-caliber property into their portfolio aligns perfectly with their commitment to creating extraordinary experiences for guests.
Manuel Noronha Andrade, CEO of ECS, added that this operation reflects their commitment to identifying opportunities that create significant value. He believes that under new management, the resort will continue to elevate the hotel market in the region, reaffirming its position as a premier destination.
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