Spain 
Italy 
Greece 
Marriott and Carlyle Buy the Penha Longa Resort for €100 Million
30 November 2018
The sale of the luxury hotel in Sintra is expected to be finalised in brief and Brussels has already been notified. The Marriott and Carlyle groups are expected to pay around 100 million euros.
The Penha Longa Resort, a luxury hotel in Sintra which is home to the annual meeting of the European Central Bank, will be sold to the Carlyle and Marriott groups. The hotel unit, currently owned by Deutsche Bank, is expected to sell for close to 100 million euros, the Jornal de Negócios reported in its Friday edition.
CBRE assisted the acquisition by the Marriott hotel chain and the venture capital group Carlyle, which already notified the European Commission.
The Penha Longa Resort was owned by a group of companies: Deutsche Bank España, Espart (the Espírito Santo Group’s real estate arm), and Metrópolis (Spanish group) since 2003, when they acquired it for 50 million euros. The hotel – with 194 rooms, five restaurants, two golf courses and a spa – is on a 220-hectare property, close to the Palace and the Penha Longa Monastery, dating to the 14th century. The 5-star hotel is one of the most exclusive hotels in the country and has served as the venue for the annual meeting of Europe’s central bankers since 2014.
Original Story: Observador
Translation: Richard Turner