Viceroy hotel and apartments in Portugal change owners before opening doors – Turismo & Lazer
The hotel and the Viceroy apartments at the Ombria Resort, in Loulé, changed hands before opening their doors.
The luxury hotel chain based in Los Angeles, Viceroy, reached an agreement this Thursday for the sale of all units to the American Highgate, developer and manager of more than 500 hotels with 84,000 rooms.
Without revealing the values, in a statement Highgate only says that the transaction should be completed in early 2023. Shortly before the first hotel and luxury apartments of the Vinceroy brand will be inaugurated in Portugal.
According to the Viceroy website, the luxury development, located seven kilometers from Loulé, will start up during the spring of 2023, with the hotel having 76 rooms, in addition to 65 residences and a golf course.
The Viceroy brand was born in 2000 with the opening of the Viceroy Santa Monica and has evolved into a portfolio of 10 hotels and resorts operating in Mexico (in Los Cabos and the Riviera Maya) in the USA (in Santa Monica, San Francisco, in Beverly Hills , in Chicago, in Snowmass, and in Washington DC), and in Serbia (in St. Lucia and Kopaonik).
In 2023, the resort is only scheduled to open in Portugal and in 2024 in Panama, in Bocas del Toro.
For the CEO of Vinceroy, Bill Walshe, this transaction allows “fueling the future expansion of the brand” with a “partner that offers support” in order to “boost and solidify” a brand in the luxury segment.
Highgate has been active in the management and development of hotel real estate for 30 years and has assets under management valued at USD 20 million.