Without revealing the value of the deal, the group says in a statement that the transaction “represents a strategic investment” that reinforces its commitment to promoting a luxury lifestyle oriented towards well-being.

Located in Quinta do Lago, in the Faro district, Conrad Algarve has 154 suites, 80 apartments, two villas and six restaurants and bars, including a Michelin-starred restaurant.

“[...] This acquisition represents a transformative step for us. Bringing a property of this calibre to the market and to Quinta do Lago's portfolio aligns perfectly with our dedication”, says the group's general director cited in the note.

According to Sean Moriarty, the hotel unit “further elevates the reputation” of Quinta do Lago as a global destination for those seeking exclusivity.

“This milestone reflects our vision to shape and lead the hospitality industry by combining timeless elegance with innovation. […] By incorporating this exceptional hotel, we reaffirm our commitment to establishing new standards of luxury and paving the way for the future of high-level hospitality in the Algarve and beyond”.

Founded by businessman André Jordan 50 years ago, the residential tourism and golf development is integrated into an area of ​​645 hectares of the Ria Formosa Natural Park, in the parish of Almancil, in the municipality of Loulé.