Quinta do Lago in Almancil have announced the acquisition of the luxury Conrad Algarve, complementing the resort’s existing portfolio, which includes 14 restaurants and bars, The Campus, state-of-the-art sports centre, property amenities through Quinta do Lago Club and three iconic golf courses.
The Conrad itself has 154 suites, 80 apartments, 2 villas and 6 restaurants and bars, including a Michelin-starred restaurant, as well as a luxury spa.
The successful acquisition of Conrad Algarve was led by the Quinta do Lago team, under the guidance of Chief Executive Officer (CEO) Sean Moriarty and Chief Financial Officer (CFO), Miguel Sousa.
“This historic acquisition, made from a fund managed by ECS, an asset management company owned by Davidson Kempner Capital Management, was supported by PLMJ, Quinta do Lago’s long-standing legal partner. On the seller’s side, Uría Menéndez acted as legal advisor, while CBRE and Eastdil Secured were responsible for brokering the transaction,” Quinta do Lago explained in a statement.
This transaction represents a strategic investment that reinforces “the resort’s commitment to promoting a luxury lifestyle, focused on well-being”.
Quinta do Lago Group is opening the door to “new and exciting opportunities, with 80 apartments featuring premium finishes, a concept designed for practicality and sophistication. They offer a “lock-up-and-leave” lifestyle, perfect for those seeking a perfect blend of luxury, tranquility and security, while also providing access to all the resort’s amenities. These properties join Quinta do Lago’s prestigious sales and rental portfolio, offering owners the opportunity to enjoy an investment in one of Europe’s most exclusive destinations.”
Over the years, the resort says it has “invested more than €70 million in improving the experience for visitors, transforming itself from a primarily golf-centric destination to a dynamic, active lifestyle resort that appeals to a younger, more diverse audience.”
Sean Moriarty, CEO of Quinta do Lago, said: “As Quinta do Lago continues to strengthen its position as one of the world’s most prestigious lifestyle and wellness destinations, this acquisition represents a transformative step for us. Bringing a property of this calibre to the market and into the Quinta do Lago portfolio aligns perfectly with our dedication to creating extraordinary experiences for our guests. Conrad Algarve is the perfect complement to our well-established offerings, further elevating our reputation as a global destination for those seeking exclusivity.”
“This milestone reflects our vision to shape and lead the hospitality industry by combining timeless elegance with innovation. Quinta do Lago is not just a resort; it is a community and a legacy built on excellence. By incorporating this exceptional hotel, we reaffirm our commitment to setting new standards in luxury and paving the way for the future of high-end hospitality in the Algarve and beyond,” he added.
For Manuel Noronha Andrade, CEO of ECS, “this transaction reflects ECS’ commitment to identifying opportunities that create significant value. We are proud to have supported the growth of Conrad Algarve, positioning it as an icon of excellence. We believe that, under the new management, the resort will continue to raise the bar in the hotel market in the region, reaffirming its position as a reference destination”.
Source https://postal.pt/
