Until now property of the Mubadala fund, the luxury hotel chain Viceroy will be sold to the American Highgate, which has a portfolio of over 500 hotels.
In a statement quoted by Negócios, Highgate did not give the value of the transaction, but said it would be concluded at the beginning of 2023, shortly before the opening of the new Viceroy hotel and residences included in the Ombria Resort in Loulé, Algarve, Portugal.
The Ombria Resort, promoted by the Pontos group, includes a Viceroy hotel, with 76 rooms and luxury suites, and the first branded Viceroy Residences of the North American chain in Europe, with 65 one and two bedroom flats. A complex also endowed with a spa, health and fitness facilities, several restaurants and bars, a conference centre, swimming pools, a kids club or astronomical observatory and a golf course.
Specialised in hotel property management and development, Highgate currently has a portfolio of 20 billion dollars under management.