Azora acquires the Praia d'El Rey Resort in Portugal and strengthens its position in the hotel sector

Expand your asset portfolio

The transaction, carried out through its Azora European Hotel and Lodging Fund ("AEHL"), includes a 5-star hotel with 177 rooms, two 18-hole golf courses and 90 tourist apartments.

---

 

Azora, a real estate investment manager based in Spain, has announced the acquisition of the Praia d'El Rey Resort in Óbidos, Portugal.

 

El Praia d'El Rey Resort It is located in a privileged enclave in front of the Atlantic OceanWith direct beach access and surrounded by the Praia d'El Rey golf course, the hotel, which will continue to operate under the Marriott brand, offers a wide range of premium services and facilities, including four restaurants, a spa, indoor and outdoor pools, a kids' club, and extensive meeting and event facilities.

 

The resort's two golf courses, Praia del Rey and West Cliffs, have been ranked among the top 10 in Portugal and received the award Golfer's Choice Award in 2023. Their unique design and the quality of their facilities make them an ideal destination for golf lovers from around the world.

 

The acquisition of the Praia d'El Rey Resort is an important step in Azora's strategy to continue growing in the European hotel sector, with a particular focus on the Mediterranean and Southern European markets.

 

 

With this acquisition, Azora expands its portfolio of hotel assets in Portugal, which now includes seven hotels and two 36-hole golf courses. The Spanish manager thus reinforces its position as one of the main investors in the hotel sector in Europe, with more than 12.000 rooms under management and an investment of more than 3.000 million euros since 2011.

 

Concha Osácar, founding partner of AzoraHe emphasized: “This transaction reflects our strong belief in the hotel sector in the Mediterranean and Southern Europe. Consolidating our presence in Portugal with a hotel and golf resort of this quality is a key milestone for the Fund, as it represents a further expansion of our presence in high-potential markets. We firmly believe in the strength of the Portuguese market and its enduring ability to attract not only European visitors, but also the growing influx of American tourists.”

 

Azora is a real estate investment manager with extensive experience in the hotel sector. The firm has invested in more than 100 hotels and 26.000 rooms since 2011, with a focus on value creation through asset transformation and active management of hotel operations. In 2021, Azora launched its fund Azora European Hotel & Lodging (AEHL), with a capital of 815 million euros, with which it has made investments in key tourist destinations in Europe.