Portugal: Investment firm EXTENDAM and hotel management company Highgate have partnered to accumulate the Hilton Porto Gaia, a 194-room, five-star lodge positioned on the banks of the Douro River.
Opened in 2021 and bought from funds suggested by ECS, the property options 47 suites, a fantastic eating restaurant, rooftop bar, wellness centre, 10 assembly rooms and a 350-seat auditorium. It holds each an A-rated power certificates and the Biosphere Accountable Tourism certification.
The asset sits in Vila Nova de Gaia, an space present process vital redevelopment and recognized internationally for its port wine cellars.
The lodge is franchised beneath the Hilton model and will likely be managed by Highgate, which already operates a portfolio of properties throughout Portugal, together with resorts and full-service resorts.
Maxime Durand and Victor Burgund from EXTENDAM mentioned: “The Hilton Porto Gaia acquisition is totally aligned with our technique: investing in premium, well-located property in dynamic markets, at enticing entry factors. Overlooking the Douro and operated by Highgate, a number one administration firm, the property already demonstrates stable outcomes with substantial potential for additional development. We’re assured it would totally profit from Porto’s optimistic market trajectory and the energy and visibility of the Hilton community.”
Nicholas Mellis, vice chairman of acquisitions at Highgate mentioned: “We’re proud to accomplice with EXTENDAM on the Hilton Porto Gaia. Collectively, we stay up for constructing on the property’s strengths and delivering best-in-class operations that help the resorts’ continued success.”
Highlights:
• EXTENDAM and Highgate have acquired the Hilton Porto Gaia, a 194-room five-star lodge.
• The property opened in 2021 and consists of 47 suites, eating places, bars, a rooftop, spa, health centre, and in depth MICE amenities.
• Highgate will handle the lodge beneath the Hilton brand.
• The acquisition marks the primary partnership between EXTENDAM and Highgate.
