Azora purchases Vilalara Thalassa resort

The Spanish fund Azora has just purchased its third hotel in Portugal.

After having bought two Tivoli hotels, the company has now added the five-star Vilalara Thalassa Resort at Porches in the Algarve to its Portugal portfolio.
The sale purchase has not been made public, but the founding partner of Azora, Cocha Osácar told the Spanish press that it would not be the last acquisition the fund would be making in Portugal.
The purchase was made through a special fund vehicle set up for such acquisitions, the European Hotel & Lodging fund.
The Vilalara Thalassa Resort had, prior to the sale, belonged to another fund – Oxy Capital.
The five-star resort is perched above the Praia das Gaivotas beach in Porches and has 118 rooms and suites.
The Vilalara is currently considered to be one of the best resorts in Portugal because of its stunning location and the quality of the services it provides. It is currently being managed by Blue and Green.
The other hotels Azora has bought in Portugal recently are the Tivoli Marina Vilamoura and the Tivoli Carvoeiro in the Algarve for €148 million from the Thai group Minor.