Summary:
Quinta do Lago acquires Conrad Algarve from ECS, enhancing its luxury portfolio.
The five-star resort includes 154 suites, 80 apartments, and a Michelin-starred restaurant.
CEO Sean Moriarty calls the deal a historic acquisition and a transformative step.
Legal support was provided by PLMJ for the buyer and Uría Menéndez for the seller.
The acquisition strengthens Quinta do Lago’s position as a premier luxury destination.
Quinta do Lago Acquires the Luxurious Conrad Algarve
Quinta do Lago has successfully acquired the Conrad Algarve from a fund managed by ECS, an asset management company backed by Davidson Kempner Capital Management. This five-star establishment features 154 suites, 80 apartments, two villas, six restaurants and bars (including one with a Michelin star), and a luxury spa.
The exact transaction value has not been disclosed, but Quinta do Lago describes the deal as a "historic acquisition" led by CEO Sean Moriarty and CFO Miguel Sousa. They emphasize that this investment underscores their commitment to promoting a luxury lifestyle focused on well-being.
Legal support for the buyer was provided by PLMJ, while the seller was advised by Uría Menéndez. CBRE and Eastdil Secured facilitated the transaction, as noted in a press release.
Sean Moriarty stated, "This acquisition represents a transformative step. Bringing a property of this caliber into the market and into the Quinta do Lago portfolio aligns perfectly with our dedication to creating extraordinary experiences for our guests. The Conrad Algarve is the perfect complement to our well-established offerings, further enhancing our reputation as a global destination for those seeking exclusivity."
Manuel Noronha Andrade added that the operation reflects a commitment to identifying opportunities that create significant value. He expressed pride in supporting the growth of Conrad Algarve, positioning it as an icon of excellence. He believes that under the new management, the resort will continue to elevate the hotel market in the region, reaffirming its status as a premier destination.
With over 40 years of existence, the Quinta do Lago resort is situated within the 645 hectares of the Ria Formosa Natural Park. The addition of Conrad Algarve complements the existing portfolio, which includes 14 restaurants and bars, the high-performance sports center The Campus, property services through the Clube de Quinta, and three iconic golf courses: Norte, Sul, and Laranjal.
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