The Pestana Group have added another tourist complex to their portfolio, becoming the owners of the Vila Sol tourist complex, in Vilamoura.
The Portuguese multinational hotel group already managed the complex , but have now purchased the 5-star hotel, 2 golf courses with 18 and 9 holes and 7,770m² of land for development, for around €43,000,000.
The Pestana Vila Sol is a reference in the hotel industry and golf tourism in Portugal, standing out for its privileged location in Vilamoura, one of the most premium areas in the Algarve.
With 189 rooms, a wide range of first-class amenities and two internationally renowned golf courses, with a total of 27 holes, the complex attracts both tourists and golfers from around the world.
Furthermore, the land for development also adds value to this business, offering opportunities for future expansion projects or real estate developments.
“This sale represents a significant milestone in the Vilamoura property market, highlighting the potential for continued investment in the region. The Pestana Vila Sol is a reference in tourism and golf in the Algarve, and we are pleased and proud to have participated in this transaction”, explains Karina Simões, Head of Hotel Advisory at JLL who advised Pestana on the purchase.
Pedro Lopes, administrator of the Algarve Region of the Pestana Group, states that “the acquisition of the Pestana Vila Sol development is the culmination of a process that began a dozen years ago, when the Pestana Group took over the management of this hotel unit and the adjacent golf course ”.
“In a first phase, we managed to recover the profitability of these units and, subsequently, reinforced the commitment, assuming the risk as tenants with a fixed market rent”, he adds.
“With the purchase of this project, we demonstrate and highlight what has been, from the beginning, our commitment to this project and to investing in tourism in the Algarve”, highlights Pedro Lopes.
