Quinta do Lago Group, real estate expertise whether buying or selling, ensuring a semless process with unparalleled market insight has announced the purchase of the five - star hotel Conrad Algarve located in Almancil, freguesia and town belonging to the municipality of Loulé, in the affluent Golden Triangle region of the Algarve of southern Portugal.
The transaction was managed from the fund of ECS, an asset management company owned by Davidson Kempner Capital Management LP, global institutional alternative investment management firm founded in 1983 and based in New York - U.S.
Without revelaling the value of the deal, Quinta do Lago Group said in a statement that the transaction represents a strategic investment that reinforces its commitment to promoting a luxury lifestyle oriented towards well – being.
The hotel is located in Quinta do Lago in the Faro district along Estrada da Quinta do Lago in the parish of Almancil, in the municipality of Loulé in an exclusive golf and residential estate bordering the Atlantic Ocean founded by businessman André Jordan, 50 years ago the residential tourism and golf development is integrated into an area of 645 hectares of the Rio Formosa National Park.
Conrad Algarve boasts 154 suites, 80 apartments, two villas and six restaurants and bars, including a Michelin – starred restaurant and a luxury Spa, all contributing to an even more exceptional guest experience.
The CEO of Quinta do Lago Group Sean Moriarty declared that this acquisition represents a transformative step for the company, bringing a property of this calibre to the market and to Quinta do Lago's portfolio aligns perfectly with the company dedication and this hotel further elevates the reputation of Quinta do Lago Group as a global destination for those seeking exclusivity.
This milestone reflects the vision of Quinta do Lago Group to shape and lead the hospitality industry by combining timeless elegance with innovation. By incorporating this exceptional hotel, the company reaffirms its commitment to establish new standards of luxury and paving the way for the future of high – level hospitality in the Algarve and beyond.
Link - https://www.theportugalnews.com/news/2024-12-04/quinta-do-lago-group-buys-conrad-algarve-hotel/94024
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