The Carlyle Group and Explorer Investments have purchased Penha Longa Hotel & Golf Resort in Portugal. Financial details of the transaction were not disclosed. The hotel will continue to be managed by Ritz-Carlton, a Marriot Group company, which has run the resort since December 2003.
Penha Longa Hotel & Golf Resort, part of Quinta da Penha Longa, in Sintra, is one of the most iconic resorts in Portugal. It offers 194 rooms, a spa and a wellness centre as well as more than 3,000m² conference and meeting facilities. The resort features one of the top 30 best golf courses in Europe. In addition to extensive meeting, sporting and leisure facilities, in 2018 Penha Longa became the first hotel in Portugal to have two restaurants awarded Michelin stars.
Peter Stoll, Managing Director for Carlyle European Realty advisory team, said: “Penha Longa is one of the best-known and most-established hotels in Portugal, and the hospitality sector in the country is experiencing strong demand from both leisure and corporate travellers. We are excited to partner with Explorer Investments to develop the full potential of the resort.”
Pedro Seabra, Partner for Real Estate of Explorer, said: “The Explorer’s co-investing and asset management business in Real Estate and Hospitality is growing in a sustainable way, and we are very happy with the quality of this asset, which comprises state of the art hospitality and first-class real estate development, and the quality of our partner in this investment”.
