14 January 2020 – The Spanish investment firm Hotel Investment Partners (HIP) has acquired The Lake Spa Resort in Vilamoura from Oxy Capital for an undisclosed amount.
HIP will now remodel the facility, which currently has an artificial lake, three restaurants and two bars. The firm subsequently intends to change the brand, inviting a new operator to take over management of the luxury resort. The five-star hotel was previously managed by Blue & Green.
The Spanish firm, which is controlled by the US investment giant Blackstone, began its international expansion a few months ago with its acquisition of five hotels in Greece.
Original Story: Economia Online – Catarina Melo
Translation/Summary: Richard D. Turner