Quinta do Lago's Landmark Acquisition of Conrad Algarve Hotel
Deal News | Dec 06, 2024 | Iberian Lawyer
In an unprecedented transaction, Quinta do Lago has acquired the Conrad Algarve Hotel from ECS's managed company, Flitptrel V. PLMJ, a leading law firm, provided comprehensive legal services for this milestone deal in the Portuguese hotel industry. The 5-star hotel, located in Almancil, is notable for its 154 suites, multiple luxury amenities including restaurants, bars, a spa, and 82 tourist apartments and villas. The acquisition represents the largest single-asset deal in Portugal's hospitality sector. The legal team from PLMJ was captained by top partners specializing in real estate, tourism, banking, and finance, showcasing the firm's diverse expertise in handling complex transactions.
Sectors
- Real Estate
- Hospitality
- Legal Services
Geography
- Portugal – The acquisition of Conrad Algarve Hotel took place in Portugal, impacting the local hospitality and real estate markets.
Industry
- Real Estate – The acquisition involves a major real estate transaction, specifically in the luxury hotel segment.
- Hospitality – The deal centers on a luxury hotel, highlighting its impact on the hospitality industry in Portugal.
- Legal Services – PLMJ provided key legal advisory services in this transaction, representing the legal industry's involvement.
Financials
- Not disclosed – The financial terms of the acquisition deal were not publicly disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Quinta do Lago | Buyer | Company | Acquirer of the Conrad Algarve Hotel, expanding its portfolio in the luxury segment. |
| Flitptrel V | Seller | Company | Company managed by ECS and owned by Davidson Kempner Capital Management, sold the Conrad Algarve Hotel. |
| PLMJ | Legal Advisor | Company | Law firm providing legal advice and support to Quinta do Lago for the acquisition. |
| Conrad Algarve Hotel | Target | Company | A 5-star luxury hotel located in Almancil, the subject of the acquisition deal. |
| Davidson Kempner Capital Management | Owner | Company | Owner of Flitptrel V, the seller of the hotel in the transaction. |
| ECS | Manager | Company | Managed the selling company, Flitptrel V, involved in the hotel sale. |