Água Hotels | € 20 Million Investment for a New Hotel in Algarve

The Água Hotels group will build a new hotel in Ferragudo in the municipality of Lagoa, an important tourist destination in the district of Faro, in the Portuguese region of the Algarve, with an investment of € 20 million.

The new hotel will be built close by the Arade Congress Center, the works are expected to begin in 2025 with the opening scheduled for 2027 according to Publituris information, it will be a 4-star hotel and will be born from the renovation of a former canning factory.

The main building will house the reception, a bar and a restaurant and another new building will be developed to the east which will house 169 rooms including 5 suites.

Between the two buildings there will be a central outdoor courtyard with swimming pool and garden and other services available will be a Spa center, a gym and an internal parking.

In a press release, the Commercial Director of the Água Hotels Group, Bruno Canhoto, commented that the proximity to the Arade Congress Centre, one of the largest in the Algarve with an Auditorium with a capacity of 1,100 seats, makes the development of the hotel an ideal choice for corporate events and business meetings, and that this project is the largest of the group in terms of the number of rooms.

This hotel will be added to the portfolio of the group which currently owns the following facilities: Água Hotels Alvor Jardim in Alvor, Água Hotels Vila Branca in Lagos, Água Hotels Riverside in Parchal, Água Hotels Mondim de Basto and Água Hotels Sal Vila Verde in Cabo Verde, as well as two units; under construction in Bragança and Lagos.

Link : https://www.theportugalnews.com/news/2024-08-06/20-million-for-new-algarve-hotel/91125