The hotels in question are the Douro Royal Valley Hotel & SPA and the Douro Palace Hotel Resort & SPA, which became part of this fund after it acquired the entirety of JASE Empreendimentos Turísticos, the company that operated the two hotel units, according to a report by Publituris.

Following this acquisition, Explorer Investments has an investment plan focused on improving the positioning of these hotels in the national market, with “a strong focus on their internationalisation”. To this end, “a capex plan focused on modern design and the development of new experience concepts, as well as the application of sustainable practices and the attraction of new markets” will be implemented.

“This acquisition is part of the Hospitality I Fund’s investment strategy, which aims to reinforce investment in companies dedicated to operating national hotels, with high potential for growth and profitability. Our goal is to further increase the attractiveness of the Douro Royal Valley Hotel & SPA and Douro Palace Hotel Resort & SPA, improve their image, add new experiences and enter a period of growth”, states Explorer Investments in a press release.

The five-star Douro Royal Valley Hotel & SPA, with 84 rooms, has three restaurants, an outdoor infinity pool, a conference center and a spa. Built-in 2013, the hotel located in Lugar de Portela do Rio, Ribadouro, Baião municipality, offers views of the Douro River from all rooms.

The Douro Palace Hotel Resort & SPA, built in 2008, is located on the northern slope of the Douro River, in Santa Cruz do Douro, Baião. The four-star hotel has 60 rooms, three restaurants, vineyards that run down to the river, an organic farm with animals and plants, an outdoor pool, a conference center and a spa. It is located in an old manor house surrounded by ten hectares of protected forest.

After this acquisition, the fund guarantees to have identified “more than one hundred opportunities, with the intention of promoting excellence in the national hotel sector”.

Explorer Investments received financial advice from DFK Portugal and legal advice from CCSL Advogados during the acquisition process.