Azora Buys the Third 5-Star Hotel in the Algarve

Main Photo: The view from the Vilalara Thalassa resort

Date: August 2021

Name: Vilalara Thalassa Resort

Location: The Playa de las Gaviotas, in the municipality of Porches, the Algarve, Portugal

Number of Keys: 131 rooms, suites and apartments

Seller: TBA

Buyer: The capital and investment manager Azora has bought the luxury 5-star hotel Vilalara Thalassa Resort located in the Portuguese Algarve, it’s third acquisition in less than a month in the region after being made in July with the Tívoli Vilamoura and the Tívoli Carvoeiro. The acquisition of this luxury establishment reinforces the fund’s position in the region as it now has three unique assets, leaders in the five-star segment.

The deal has been carried out through the Azora European Hotel & Lodging fund, Azora reported in a statement sent on Tuesday.

The Vilalara Thalassa hotel, operated by the Blue & Green company, has 118 rooms and is considered emblematic in the Algarve for its quality of service and its location, on Playa de las Gaviotas, in the municipality of Porches

“The operation of the Hotel Vilalara reinforces our conviction about the recovery of tourism in Europe and the unique positioning of the Algarve to be a protagonist in this recovery. From Azora, we remain convinced of the attractiveness of this region and the Portuguese market and we want to continue working very actively with the hotel groups, “said Concha Osácar, co-founding partner of Azora.

The Azora European Hotel & Lodging fund was launched in July 2020 after raising € 680 million in capital commitments and has more than €1.5 billion to invest in hotels throughout Europe, mainly in sun and beach assets.

This operation is the fourth that the fund has carried out since its constitution, after the acquisition of a hotel portfolio made up of ten resorts and four urban hotels throughout Europe, the Giverola Resort, located on the Spanish Costa Brava, and luxury hotels Vilamoura and Tivoli Carvoeiro

Azora is an independent asset manager based in Spain , which has invested more than €4 billion of capital since its inception in 2003 and currently manages around € 3.2 billion of assets under management (as of December 2020).

THPT Comment: The old hotel adage appears to hold true…no point in just having one hotel in a given area, the more the merrier – one’s marketing buck stretches further.

First Seen: Hosteltur

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