Arrow Global, a European alternative asset manager specialising in private credit and real estate, has completed the acquisition of the owner and operator of the Hilton Vilamoura – As Cascatas Golf Resort & Spa in Portugal.
This five-star hotel also operates the four-star Vilamoura Garden hotel. Financial details were not disclosed.
'This acquisition reinforces the investment we have made in the Portuguese hotel industry, adding 294 rooms to our portfolio,' said John Calvão, principal of Arrow Global Funds.
Francisco Moser, CEO of Hospitality at Arrow Global Portugal added: 'Vilamoura and the Algarve are highly strategic for Arrow Global and the funds it manages. This follows our acquisition of Vilamoura World, Details Hotels & Resorts, and more recently, Hotéis Dom Pedro.'
Arrow Global's strategy involves managing the operation of the two hotels. They plan to modernise the infrastructure, noting that the rooms were remodeled in 2022. Additionally, they aim to integrate these offerings into the Vilamoura estate already owned by the Group.
'We are very pleased with this business. We continue to expand in Portugal and these two units hold special significance in Vilamoura due to their prime location between the Dom Pedro Old Course and Dom Pedro Pinhal, both golf courses owned by Arrow funds,' said João Bugalho, CEO of Arrow Global Portugal.
The acquisition process was managed by Norfin Serviços, a subsidiary of Arrow Global.