Arrow Global Portugal hosts Innovation Challenge for the third time
Arrow Global Portugal wants to invest €500 million in five years in Hospitality
Arrow Global Portugal, which owns Whitestar Asset Solutions, Norfin Serviços, Restart Capital and Hefesto in Portugal and also has a stake in Vilamoura World through the ACO1 Fund, is launching a new business vertical aimed at developing and managing tourism assets.
“This is the time to take advantage of the opportunity for aggregation that the Portuguese hotel market offers, as has happened internationally. The aim is to grow the portfolio under management, with planned investment in Hospitality of up to €500 million over the next five years, says Francisco Moser, Hospitality CEO of Arrow Global Portugal.
The first deal has now been completed, with the acquisition of 75% of the Details Hotels & Resorts hotel group, which currently manages seven hotels in the Albufeira and Carvoeiro areas, with a new 5-star unit coming on stream very soon. The remaining 25% of the capital remains in the hands of the current partners, with João Costa retaining operational management of the chain. “Details’ entry into the Arrow Global perimeter makes us very happy. We believe that we can add our experience and knowledge to the different projects in which the group is involved,” adds João Costa, COO of Details Hotels & Resorts.
The Group is currently analyzing a pipeline that includes different business opportunities located not only in the Algarve, but in other regions of the country, as João Bugalho, Country CEO of Arrow Global, explains: “We want to reach the main national destinations. At the moment, the Algarve is a natural choice, as it’s an area where we’ve already managed several investments and because of its strong dynamic demand, but we’re on the lookout for opportunities in Lisbon, Porto and other regions. Scale is a determining factor for the success of this new line of business.”
The Group expects to grow through businesses ranging from the direct acquisition of assets to rental or management contracts for hotels and tourist apartments. To this end, it relies on the experience and cooperation between the various Arrow Global companies in Portugal, namely Norfin, which specializes in real estate investment management and has more than two decades of know-how in asset management and real estate development, in line with the work it is currently doing for Vilamoura World.
For Francisco Sottomayor, Norfin’s CEO, this step represents a clear opportunity: “We are very interested in this new business area, which is in some way complementary to everything the group already does in Portugal in the real estate sector and to which Norfin hopes to make a significant contribution, both through the analysis of new investment opportunities and through the control and execution of planned investments.”
In Portugal, Arrow Global currently employs around 600 people.
