Brazilian resort Reserva do Paiva sold to Vila Galé Group

Grupo Vila Galé, one of Portugal’s largest hotel groups, with a strong presence in Brazil, has just acquired the Reserva do Paiva in Recife.

CBRE, a global leader in real estate services, announced the successful completion—on an exclusive basis—of the advisory mandate for the sale of the former Sheraton hotel, located in the exclusive Reserva do Paiva area of ​​Recife, Pernambuco, Brazil.

The property, previously managed by a Portuguese banking institution, was acquired by the Vila Galé Hotels group, which plans to reopen the hotel this October following an extensive repositioning and concept redesign.

This transaction reflects strategic coordination between CBRE’s hospitality teams in Portugal and Brazil.

The deal stands out as a success story for the firm’s LATAM platform—a structure specifically designed to support Iberian investors expanding their businesses into Latin America and, conversely, to guide Latin American capital seeking to maximise business opportunities with the Iberian Peninsula.

This premium development stands out for its grandeur and robust infrastructure. The massive resort spans seven floors and will feature 298 rooms and suites, complemented by a comprehensive range of leisure and wellness amenities, as well as facilities designed to host conferences, conventions, and large-scale events.

Source: CBRE Portugal