Arrow Global has just announced the acquisition of the main assets of the Dom Pedro Group, on behalf of funds it manages and whose name it did not specify.
This deal includes three hotels in Vilamoura (Dom Pedro Portobelo, Dom Pedro Marina and Dom Pedro Vilamoura) and five golf courses in the same area - Old Course, Pinhal, Laguna, Millenium and Victoria. Also included are Dom Pedro Lagos, Dom Pedro Machico and Dom Pedro Garajau (these two in Madeira). Note that Dom Pedro Lisboa hotel is not included, and is still owned by Saviotti S.A..
John Calvão, Principal of Arrow Global funds, comments in a statement that the purchase of these hotels "significantly increases the real estate assets under Arrow's management and enhances the robust potential we see in this highly attractive destination. We are delighted that Mr Stefano Saviotti, a pioneer in the development of Vilamoura, has entrusted us with the acquisition of the majority of Dom Pedro's assets in Portugal."
And he adds: "we are committed to continue working with a brand of great tradition and significance for the country. By placing the Dom Pedro assets under our management, along with the previous acquisition of Vilamoura World, we express our unwavering dedication to positioning Vilamoura and Portugal as a leading global destination."
For João Bugalho, CEO of Arrow Global Portugal, "our goal is to continue to grow and contribute to the development of the national hotel and tourism industry, with particular emphasis on Vilamoura". He is convinced that "this acquisition allows us to leverage synergies in the region".
The acquisition process was managed by Norfin Serviços, a subsidiary of Arrow Global. Francisco Sottomayor, CEO of Norfin, guarantees that "this deal reflects the commitment that Norfin has shown in developing new capabilities in hospitality and tourism, which have had excellent results. We are very pleased to have participated in this transaction, a significant milestone in the growing Portuguese investment market".
For his part, Stefano Saviotti, Chairman of the Board of Directors of the Dom Pedro Group, says he is "very proud to have contributed to the success of both reference destinations (Algarve and Madeira). I also thank all the employees of Dom Pedro Hotels & Golf Collection, after more than 50 years of activity in the Portuguese hospitality industry. I hope that Arrow Global will continue to enhance the legacy of the Dom Pedro Group in Vilamoura and Madeira Island".
He added that "the Saviotti Group will focus its activity on the Dom Pedro 5* Hotel Unit in Lisbon and on our real estate and tourism ventures in Portugal and Brazil".
Objective is to improve and modernize the assets
The strategy of the new manager of these assets involves the improvement and modernisation of the hotels, golf courses and respective clubhouses, in order to "attract more clients and diversify the geographic base to markets with greater purchasing power, such as the North American market, providing them with a destination of excellence for holidays, leisure and sport".
The hotel management of these units will be the responsibility of Francisco Moser, CEO of Hospitality at Arrow Global Portugal. Nuno Sepúlveda, former General Manager of Costa Navarino Golf in Greece, joins the group as CEO of Sports & Leisure.
João Bugalho also comments that "with the experience of two professionals such as Francisco Moser and Nuno Sepúlveda, we have the security and confidence necessary for a group that aspires to assert itself as a significant player in the areas of hospitality, sports and leisure".
