Locations: Lisbon, Alentejo and Algarve, Portugal
Names: Various, managed by Nau Hotels – flagship is five-star Palacio do Governador, Lisbon and Lago Montargil & Villas, with many, four and five star hotels in the Algarve
Guide Price: North of €1bn
No. of Keys: TBA
The Opportunity: This portfolio, owned by ECS, initially acquired in 2013 and over the intervening years, trades under the Nau brand. ECS, co-founded by Antonio de Sousa, a former chairman of state-owned bank Caixa Geral de Depositos SA and a former central bank governor, has in less than five years become the 10th-biggest hotel group in Portugal, with 3,699 beds, according to Deloitte’s Portuguese Hospitality Atlas of 2016. ECS took over Saraiva’s hotels, some of which had completely shut down, and currently manages them under the NAU Hotels & Resorts brand.
It is understood that several private equity firms, including Blackstone, Apollo, Fortress, Bain and the likes are in the running. The portfolio does include some development land and smaller commercial assets and the starting price was at €1.4bn. According to Property EU, it is thought the hotels will fetch north of €1bn.
The bidders are being advised by the “big guns” and unclear if ECS are being represented by anyone….
Main Picture: The Lago Montargil & Villas, Alentejo
Current Owners: ECS Capital
Flag and Management: Nau Hotels
Tenure: Freehold, we believe
Agent: None appointed….Maybe too late, but THPT will enquire
Guide Price: North of €1bn
Date Posted: February 2021
THPT Comment: As we say, clearly discussions are well under way, and equity funds that can afford €1bn are probably already on this….but who knows?
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.