Latest news with #JoseCardosoBotelho
Yahoo
07-07-2025
- Business
- Yahoo
Vanguard Properties plans to sell four hotels and residences in Portugal
Lisbon-based real estate developer Vanguard Properties is aiming to sell four hotels and branded residences in Comporta, Portugal, as reported by Bloomberg. The properties are currently under development and are expected to attract a valuation in the "hundreds of millions of euros", according to Vanguard CEO Jose Cardoso Botelho. The sale is part of the company's strategy to refocus its portfolio on Portugal's residential market. This move comes amidst a flurry of activity from international investors in the Portuguese hotel sector, including a €150m ($177m) investment by Brazilian bank BTG Pactual and British asset manager Arrow Global's purchase of two hotels, a golf course, and a marina near Comporta. Hotels have been a resilient segment in European real estate, particularly as the continent grapples with rising interest rates that began in 2022. The sector has benefited from the ability to increase room rates, mitigating inflationary pressures, and a surge in demand fuelled by the post-Covid travel boom. Portugal, in particular, saw a record 31.6 million tourists last year. According to a January report by Cushman & Wakefield, investment in Portuguese commercial property increased by 28% to €2.2bn in 2024, with hotels accounting for approximately one-fifth of this investment. Foreign investors were responsible for 74% of the total investment in the sector. According to Bloomberg, Botelho said: 'The tourism sector is experiencing strong growth, both in Portugal and across key international markets. 'This is the ideal moment to proceed with asset sales.' He also commented that Vanguard anticipates completing the sale of the Comporta properties by 2026 and has engaged financial services company Alantra for assistance with the transactions. The hotels will offer between 70 and 150 rooms, alongside 50 to 90 residences per property. Additionally, Vanguard is looking to sell 20 apartments in the Algarve region due to licensing delays that have impacted the company's strategy for the project. Botelho said that this decision is not related to the company's financial health, noting that Vanguard's debt levels are at their lowest since 2018. Co-founded by Botelho and Swiss-French billionaire Claude Berda, Vanguard has grown to become one of Portugal's largest developers, boasting an investment portfolio exceeding €1.2bn. "Vanguard Properties plans to sell four hotels and residences in Portugal" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
05-07-2025
- Business
- Bloomberg
Top Portugal Developer Offloads Hotels as Tourism Breaks Records
Vanguard Properties, an early investor in Portugal's real estate boom almost a decade ago, is making the most of a tourism surge to cash in on some properties. The company is planning to sell four hotels and branded residences under development in the summer resort of Comporta, favored by international celebrities and European royalty for its exclusivity and pristine sandy beaches. Vanguard is aiming for a valuation in the 'hundreds of millions of euros,' said Jose Cardoso Botelho, chief executive officer of the Lisbon-based real estate developer.
