Vanguard Properties to sell hotels and residences in Portugal to focus on residential market

Lisbon-based real estate developer Vanguard Properties plans to sell four hotels and branded residences in Comporta, Portugal, aiming for a valuation in the “hundreds of millions of euros”. This move is part of a strategy to refocus its portfolio on Portugal’s residential market amidst a surge of international investor activity in the Portuguese hotel sector. The European hotel segment remains resilient, benefiting from rising room rates and post-Covid travel demand. Portugal saw a record 31.6 million tourists in 2024, with hotels accounting for a significant portion of the €2.2bn invested in Portuguese commercial property that year. Foreign investors drove 74% of this investment. Vanguard anticipates completing the sale of the Comporta properties by 2026 with the assistance of financial services company Alantra. The hotels will offer between 70 and 150 rooms, alongside 50 to 90 residences per property. Additionally, Vanguard plans to sell 20 apartments in the Algarve region due to licensing delays. This decision is not financially motivated, as Vanguard’s debt levels are at their lowest since 2018. Vanguard Properties, co-founded by Jose Cardoso Botelho and Claude Berda, has grown to become one of Portugal’s largest developers with an investment portfolio exceeding €1.2bn.

Read more at Yahoo Finance.: Vanguard Properties plans to sell four hotels and residences in Portugal