Hotel California in Albufeira sold to Arrow Global Portugal
Hotel California, a 3,900 m² hotel in the center of Albufeira, has 80 rooms and privileged access to Praia dos Pescadores.
The sale of Hotel California to Arrow Global Portugal was advised by Cushman & Wakefield, a leading global consultancy in real estate services, representing the previous owner, Details Hotels & Resorts.
four-star hotel, with a total area of 3.90 m², is located in the center of Albufeira and was highlighted in 2019. sushi restaurant and also the proximity to Praia do Pescador – 100 meters away.
Gonçalo Garcia, Associate Director of Hospitality at Cushman & Wakefield Portugal, says that «this was, without a doubt, an operation that was especially possible for us throughout the management of the process, for the opportunity to help in the construction of the narrative, base of trust and respect mutual respect for the goals of each party, catapulting Details Hotels & Resorts and Norfin into a synergistic relationship that will play an increasingly present role in the Portuguese tourist scene».
«We are doing very well because of our ability to integrate into a multinational group, with the presence of a diversified, solid and strong group in Portugal. In addition, it is very positive to remain in the management of the hotel, as we can add our experience to the various projects underway», adds João Costa, COO of Details Hotels & Resorts.
Francisco Moser, Director of Hospitality at Arrow Portugal, explains that «the Algarve is an obvious choice to invest in Hospitality, due to its historical history in tourism, but the Group’s objective is to look for opportunities that arise all over the world. the opportunities the country”.
With 31 years of activity in Portugal, Cushman & Wakefield has acted in the most emblematic real estate operations of the last decades and is considered, by the three Euromoney Awards, the best real estate consultant in Portugal (2015, 2018, 2020 and 2021) and in the world (2018). ), 2019, 2020 and 2021).