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23 April 2018 | Hoteles

Christie & Co intervenes in the sale of the Sol Algarve Hotel, located in Faro (Portugal)

Christie & Co, the leading specialist hotel Property advisor, has intervened in the sale of the Sol Algarve Hotel, located in Faro (Portugal)

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It is a 2-star boutique hotel with 38 rooms, located in the historic centre of Faro, the well-known Portuguese Algarve town. Only 15 kilometres away from Faro Airport, the Hotel enjoys excellent connections with the public transport network, as it is just a few minutes from the Faro railway station and the main bus station in the area.

The Hotel, formerly owned by a private investor who operated it directly, has 38 rooms of different types (single, double and triple), all with fully equipped en-suite bathroom. It also has a breakfast room, lounge area, an interior patio with terrace and a cafeteria with outdoor access.

The new owner of the asset, which will take also operate it directly, is a Spanish-Mexican group of investors that currently operates several hotels in Mexico and Portugal.

Javier Bravo, Hotel Broker at Christie & Co, comments “This transaction is another example of how the Algarve hotel offer is being updated, mainly due to the great development of Faro and its surroundings, as well as the excellent operational results that hotels in the area are achieving, like the Hotel Sol Algarve”.

Furthermore, Carlos Nieto, Associate Director at Christie & Co, adds “Portugal has experienced an exponential growth in tourism demand over the last 3 years, which has resulted into a hotel profitability improvement. This, undoubtedly, has made the Algarve area one of the most requested both by national and international investors”.