Azora Enhances Portuguese Hotel Portfolio with Praia D’El Rey Acquisition
International news
Azora, has expanded its portfolio by acquiring the Praia d’El Rey Hotel and Golf Resort in Óbidos, Portugal. This transaction, managed through Azora's European Hotel and Lodging Fund (AEHL), includes the 5-star Marriott Praia d’El Rey Hotel, two 18-hole golf courses, and the management of a rental pool of apartments within the resort.
The Marriott Praia d’El Rey Hotel features 177 rooms and is located with direct access to the Atlantic Ocean, surrounded by golf courses. It will continue to operate under the Marriott brand through a franchise agreement and be managed by Blue & Green. The resort offers many amenities, including four dining outlets, a renovated spa and wellness area, indoor and outdoor pools, a kids club, and extensive meeting and event spaces. The acquisition also covers the Praia d’El Rey and West Cliffs Golf Courses.
This purchase adds to Azora's existing portfolio in Portugal, which includes six other hotels: Vilalara, Tivoli Vilamoura, Tivoli Carvoeiro, Tivoli Alvor, The Lodge Hotel, and the upcoming Hotel das Luzes in Lisbon.