The Norfin Group, company constituted by two of the largest real estate investment in Portugal, one of which is exclusively dedicated to managing Collective Investments Organizations in the contractual form of Closed Real Estate Investment Funds and belonging to Arrow Global, a leading Pan - European investment company and vertically integrated alternative asset manager in private credit and real estate headquartered in Manchester, England, UK revealed the development of a new luxury 5 - star hotel in Lagos, in the Algarve, sunny southern, region of Portugal.
The development will be part of the Palmares Ocean Living & Golf resort, a leading complex located in the stunning Algarve region, a testament to visionary development for pleasant and very comfortable stays and enjoying golf at the highest levels, with the aim to enhance the focus on luxury tourism in the southern region of Portugal and also linked to the expansion of Marriott International, famous American hospitality company based in Bethesda, Maryland.
The project represents a significant investment and aims to create a new reference in the national hotel sector in Lagos, famed coastal town in the Algarve, known for its attractive walled old town, picturesque cobblestone street, a vibrant cultural scene, suggestive cliffs and beautiful beaches.
The future JW Marriott Algarve Palmares Hotel & Spa will feature 172 units and will be located in a very attractive position between the bay of Lagos and the estuary of the Alvor River.
According to Jornal Económico, Portuguese newspaper specializing in economics, public politics, business and commercial finance in addition to the hotel, the development of 133 luxury residences with the JW Marriott brand seal is planned, the ccomplex will have 305 units, all under the management of the international network.
This investment allows the resort to diversify its offerings, combining long - term accommodation with short - term stays offering a fan of different options and highlighted.with a high standard of service.
The CEO of the Norfin Group, Francisco Sottomayor highlighted the importance of the project for the national tourism scene stating that JW Marriot hotel is the brand’s first in Portugal and will be the factor that elevates the resort in Palmares, establishing a new benchmark of luxury for the Algarve, and the care in choosing design details and materials.
The Head of Development in Western Europe, at Marriott International, Timothy Walton believes that this opening confirms that Portugal is an attractive country for the luxury segment and the signing of the JW Marriott Algarve Palmares Hotel & Spa continues to reflect the strong growth opportunities the company is seeing for luxury accommodation in Portugal.
Link -https://www.theportugalnews.com/news/2025-04-04/new-algarve-luxury-5-star-hotel/96709
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