Sonae Capital sells two hotel assets in Tróia

Sonae Capital sells two hotel assets in Tróia

The assets Aqualuz Tróia Mar&Rio and The Editory By The Sea Tróia-Comporta were sold by Sonae Capital, through its subsidiaries, in an operation mediated by the Hotel Advisory team of the consultancy JLL.

This deal represents one of the largest real estate investment operations in hotels carried out in the Portuguese market since the beginning of 2022. The amount transacted has not yet been disclosed. Sonae's Hospitality business unit, The Editory Hotels, will maintain asset management.

The units comprise a range of 377 apartments, spaces for meetings and events, an event center with capacity for 600 people, three restaurants, spa, fitness room, indoor and outdoor pools and garden.

Karina Simões, Head of Hotel Advisory at JLL, highlights that: «there is currently a great appetite to invest in the hotel sector in Portugal, and that does not only focus on city assets or more consolidated tourist destinations, such as Lisbon, Porto or the Algarve, as this operation confirms. However, despite the solidity of demand and even though it is said that there are many hotels for sale in Portugal, the truth is that not all the offer available on the market can meet the investment criteria, as they are often small units, no associated brand and with secondary locations. Therefore, when assets like these appear on the market, the interest of investors is immediate, initiating a very disputed sales process, as was the case».

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