The Pestana Blue Alvor tourist complex, in the Algarve, changes hands, which has just been acquired by the Spanish manager Azora, through its Azora European Hotel & Lodging F.C.R.
The Pestana Blue Alvor has a total of 500 rooms, spread over an area of 120,000 square meters. It has 6 restaurants and bars, 6 indoor and outdoor pools, sports center and spa.
According to brainsre.news and Eje Prime, the Pestana Hotel Group will continue to manage this unit.
This is Azora's fourth business in the Algarve area, in addition to the purchases of the Tivoli Marina Vilamoura, with 384 rooms, the Tivoli Carvoeiro, with 248 rooms, and the Vilalara Resort, with 118 rooms, all of which are rated 5 stars.
It should be remembered that Azora has already invested more than 1,000 million euros in the purchase of several hotels in Iberia, around 60% of its investment objective of 1,800 million euros in this segment. Its portfolio currently has 29 assets and 8,000 rooms.
Concha Osácar, founding partner of Azora, says: «we maintain our firm commitment to the European hotel and leisure sector, which is in strong demand, especially in sun and beach destinations, after the pandemic».
He considers that this deal «is a unique opportunity to acquire a resort in a very attractive location, and to reinforce the presence of Azora in the Algarve, a region with pre-covid activity levels, thanks to the solidity of its tourist offer», quotes the Spanish press.
