The Dom Pedro Group and Arrow Global, through its subsidiary Norfin Serviços, have signed a strategic partnership agreement with a view to managing and operating hotel and tourism assets and investing in the development of new hotel and tourism real estate projects in the Algarve and Madeira.
The aim of the agreement signed is to boost synergies in order to create the conditions for new investments in the renovation of assets and the launch of new tourist developments in Vilamoura.
Stefano Saviotti, Chairman of the Board of the Dom Pedro Group, says he is “certain that the Dom Pedro Group has found the ideal partners to enhance the Group’s assets and to jointly develop various ideas and projects that will make Vilamoura, in the Algarve, and also Madeira, even more attractive and competitive destinations at European and world level”.
“We are very excited about this partnership, which will contribute to the growth of these regions, bringing the highest quality standards in the offer of hotel and tourist services,” adds Francisco Sottomayor, CEO of Norfin Serviços.
The partnership agreement includes investment in the renovation and repositioning of some of the Dom Pedro Group’s hotels, as well as improving the playing conditions of the 5 golf courses in Vilamoura, one of the best tourist golf destinations in mainland Europe.
The strategic partnership between the two groups was signed last week, with the conclusion of the agreement and the start of its implementation dependent on the usual market conditions, which are expected by the end of the first half of 2023.
Arrow Global, Europe’s leading vertically integrated asset manager specializing in credit and real estate, has
Arrow Global, a leading European vertically integrated asset manager specializing in credit and real estate,
The growing investment in the hotel sector in Portugal has led Arrow Global Portugal (AGPT),
