The resort opened in 2013, after entering a Processo Especial de Revitalização (Special Process of Revitalisation) to restructure a debt of more than 114 million euro, it ended up closing down and bank BPI asked for the asset’s insolvency, claiming credits of 42.3 million euro, it was followed by bank Novo Banco, with 48.4 million euro in debt, revealed Negócios and Idealista.
The Quinta do Lorde resort is located in a 160.000 sqm area and includes a 5 star hotel with 111 rooms; 103 apartments, 23 houses and a marina.
The bids to purchase the resort can be sent until the 16th of January 2020.