Highgate is expanding its operation in Europe with the creation of a new Portuguese umbrella brand and the relaunch of the Dorsett City London Hotel.
HG Portugal begins with a portfolio of 18 hotels spanning the Algarve, Lisbon, Porto, and several other markets throughout Portugal. The portfolio includes hotels operating within the Hilton and IHG brand families, as well as several independent hotels such as Cascade Resort, Salgados Palace, and Sao Rafael Atlantico. The portfolio includes lifestyle boutique hotels, urban full-service hotels, waterfront luxury resorts, and large convention facilities.
The 18 hotels are part of the portfolio bought in conjunction with Davidson Kempner Capital Management and Kronos at the start of the year.
As part of the move, Highgate has appointed Alexandre Solleiro as CEO of HG Portugal., the Caribbean and Latin America, while bringing dedicated Portugal-based experience.
The launch of HG Portugal comes on the heels of two portfolio additions in the UK market, announced in October 2021 – the Dorsett City London Hotel and Grosvenor House Suites in London's Mayfair District. From 1 March, 2023, Highgate will also begin operating the Dorsett City London Hotel under a relaunched concept as part of a larger repositioning.
What they said
Nicholas Mellis, vice president of acquisitions and development at Highgate, said: "This acquisition represents an excellent opportunity to add well-located assets to Highgate's platform and achieve immediate scale in a region that's experiencing exceptionally strong secular growth. We look forward to bringing to bear the capabilities and insights from Highgate's approximately 500-hotel management platform to launch this dedicated Portugal operating platform, and to continuing to scale across Europe."
Arash Azarbarzin, CEO of Highgate, said: "The launch of HG Portugal complements Highgate's recent re-entry into the UK management space, furthering the application of our proven business towards strategic global opportunities. Honed over the last 30 years, we will apply our innovative approach to operations, distribution, food and beverage, branding, and positioning during a remarkable moment for Portugal, as more travelers are discovering its magnificence as a prime destination."