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News Details

Azora Acquires Pestana Blue Alvor 5 Star Hotel in the Algarve

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Constructed in 2019 by the Pestana Hotel Group, the 120,000 sqm 5* resort comprises nearly 500 rooms alongside six restaurants and bars, six indoor and outdoor swimming pools and a modern sports centre and spa. The hotel is located in Alvor, on the South Coast of Portugal’s Algarve, offering excellent access to a number of beaches. The all-inclusive resort, which is nearly fully booked for the summer, will continue to be operated by the Pestana Hotel Group.

This transaction represents Azora’s fourth acquisition in Portugal and follows the recent acquisitions of the 384-bed Tivoli Marina Vilamoura resort, the 248-bed Tivoli Carvoeiro resort and the 118-bed Vilalara Thalassa Resort, all of which are 5* resorts located in the attractive Algarve region.

Following this acquisition, Azora EH&L has deployed more than €1.0 billion and is close to 60% committed across 8 transactions and 29 assets with close to 8,000 hotel keys. The Fund was launched in July 2020 with a seed portfolio of 10 resort hotel assets and 4 urban hotel assets across Europe and held an oversubscribed €815 million final close in September of last year, which gave the Fund an implied total investment capacity of more than €1.8 billion.

The Pestana Hotel Group is the largest international tourism and leisure group of Portuguese origin. Dedicated to offering its guests ‘the time of your life’, the company owns and manages more than 100 properties, across 3 continents. Mr. Pestana, the company’s visionary founder, opened the group’s first hotel in Madeira Island in November 1972. Together with his son, Dionísio Pestana, the brand’s footprint has been growing internationally. Under their leadership, the award winning Pestana brand has become a dedicated guardian of Portuguese culture and heritage, as well as a forward-thinking hospitality group that offers the very best locations, around the world. The Pestana Hotel Group comprises of four hotel brands: Pestana Hotels and Resorts, Pestana Pousadas de Portugal, Pestana CR7 Lifestyle Hotels and Pestana Collection Hotels. Aiming to offer complete and attractive experiences, the Pestana Hotel Group operates in various business areas: hotels, tourism real estate, real estate, vacation clubs, golf courses, casinos and industry. It is currently present in 16 countries in Europe, Africa and the Americas. Enter the Pestana universe and learn more at: .