Portuguese investment holding Sonae Capital has sold two hotel assets with 377 accommodation units in Troia near Setubal.
The sale and leaseback operation was brokered by real estate consulting firm JLL Capital.
Although no details were released regarding the buyer and purchase price, Karina Simões, JLL's head of Hotel Advisory, said the buyer is Portuguese.
The Aqualuz Tróia Mar & Rio and The Editory By The Sea Tróia-Comporta are part of the Tróia Resort, located on the Troia peninsula in the municipality of Grândola.
Simões commented: 'There is currently a great appetite to invest in the hotel sector in Portugal, and not only in city assets or more consolidated tourist destinations such as Lisbon, Porto or the Algarve, as this operation confirms. However, despite the solid demand and even though it is said that there are many hotels for sale in Portugal, the truth is that not all the supply available in the market can meet the investment criteria, as they are often small units, without associated brand and with secondary locations.’
The beachfront resort includes meeting and event space for up to 600 people, three restaurants, a spa, fitness room, indoor and outdoor swimming pool and garden.
According to JLL Capital, this is ‘one of the largest hotel real estate investment operations in Portugal in 2022'.
Sonae Capital’s hospitality business unit, The Editory Hotel, will be responsible for the management of the assets.
Meanwhile, Sonae Capital has opened a fourth hotel unit in Porto as part of a €20 mln investment.
The Editory Boulevard Aliados Porto Hotel is the result of a partnership between the FVC Group (developer) and SC Hospitality, Sonae Capital's hospitality business unit (operator).
The five-star boutique hotel boasts an architectural and interior design project signed by Ding Dong, setting it apart from other five-star units in the city, according to Sonae Capital.
Positioned in the luxury segment, it benefits from its central location and proximity to points of interest in the city, such as the arts districts or the movida in Porto.
The hotel has 68 rooms divided into eight categories, a heated outdoor pool and two meeting rooms, while guests have a restaurant and cocktail bar at their disposal.
There is also a strong focus on sustainability, with attention to fighting waste and reducing energy consumption.
