Highgate launches working platform HG Portugal
Portugal: Resort administration, funding, know-how and growth firm Highgate has launched HG Portugal, increasing the group’s operational presence within the area.
HG Portugal launches with a portfolio of 18 motels spanning the Algarve, Lisbon, Porto, and several other different markets all through Portugal. It comes as Highgate, alongside Davidson Kempner Capital Supervisor and Kronos, purchase the Portuguese funding supervisor ECS Capital.
The portfolio contains motels working throughout the Hilton and IHG model households, in addition to a number of unbiased motels corresponding to Cascade Resort, Salgados Palace, and Sao Rafael Atlantico. Further belongings embody way of life boutique motels, city full-service motels, waterfront luxurious resorts, and huge conference amenities.
Highgate has appointed Alexandre Solleiro as CEO of HG Portugal. Solleiro brings over 30 years of hospitality management expertise in Portugal and is joined by a staff throughout all disciplines.
Nicholas Mellis, VP of acquisitions and growth at Highgate, mentioned: “This acquisition represents a wonderful alternative so as to add well-located belongings to Highgate’s platform and obtain fast scale in a area that’s experiencing exceptionally sturdy secular progress. We sit up for bringing to bear the capabilities and insights from Highgate’s roughly 500-hotel administration platform to launch this devoted Portugal working platform, and to persevering with to scale throughout Europe.”
Arash Azarbarzin, CEO of Highgate, added: “The launch of HG Portugal enhances Highgate’s current re-entry into the UK administration area, furthering the applying of our confirmed enterprise in the direction of strategic world alternatives. Honed over the past 30 years, we are going to apply our revolutionary method to operations, distribution, meals and beverage, branding, and positioning throughout a exceptional second for Portugal, as extra travellers are discovering its magnificence as a main vacation spot.”
The launch of HG Portugal observe the addition of two property additions within the UK – the Dorsett Metropolis London Resort and Grosvenor Home Suites in London’s Mayfair. Efficient March 1, 2023, Highgate will start working the Dorsett Metropolis London Resort underneath a relaunched idea as half of a bigger repositioning.
