Azora has closed the purchase of the Praia d'El Rey Resort in Óbidos, Portugal, through its Azora European Hotel and Lodging Fund (AEHL). The acquisition, made from Oxy Capital / Aquarius Fund, includes the 5-star, 177-room Marriott Praia d'El Rey Hotel, two golf courses ranked among the top 10 in Portugal - Praia del Rey and West Cliffs - and their clubhouses, as well as the management of approximately 90 apartments and 2 additional restaurants.
The Marriott Praia d'El Rey will continue to operate under the Marriott brand franchise, managed by Blue & Green. Located facing the Atlantic Ocean, it offers direct access to the beach and is surrounded by the Praia d'El Rey golf course. The hotel is open year-round and features facilities such as four restaurants, a renovated spa and wellness area, indoor and outdoor pools, a children's club and meeting and event spaces. The acquired golf courses received the Golfer's Choice Award in 2023 from Leading Courses.
This purchase increases Azora's presence in Portugal, where it already has seven hotels and two 36-hole golf courses. The company, which currently manages more than 12.000 keys and has invested more than 3 billion euros in the hotel sector since 2011, launched AEHL in 2021 with €815 million in capital. The fund has focused on investing in resort hotels in European destinations and has recently initiated a new hotel strategy for urban tourism, targeting travelers of all ages.
