Molinaro Koger sells two properties in the Algarve for circa € 180 million

JJW Hotels & Resorts is a wholly-owned subsidiary of MBI International, a $4.8 billion multi-national company with strong interests in Europe and the Middle East.  Molinaro Koger (MK) was appointed exclusive agent for the sale of the two properties on behalf of Starman UK Company Services Ltd. 

“This is a rare opportunity to invest in two of the leading golf hotels on the Algarve, both of which offer extensive development opportunities” says MK’s Eric Kudlak. 

Felicity Black-Roberts, director of property at Starman Hotels, said: “This is an excellent opportunity for JJW to further develop these two hotels and capitalise on
the reputation of the World Famous San Lorenzo Golf Course.”

Le Méridien Dona Filipa has a close association with the San Lorenzo golf course, widely considered the best course on the Algarve and one of the top courses in Europe.  This has contributed to the property achieving one of the highest occupancies and average rates of all upscale hotels in the region.  Situated on the exclusive Vale do Lobo Estate, overlooking the sea, Le Méridien Dona Filipa is within 15 minutes of Faro International Airport.  The property offers significant potential to improve performance by adding new rooms and suites, an indoor swimming pool and spa and by the development of a new all-suites hotel or condo-hotel at San Lorenzo golf course. 

Le Méridien Penina Golf Resort was the first five star hotel to be built on the Algarve 40 years ago.  Part of the 145 hectare Penina Estate, it has three golf courses designed by the late Sir Henry Cotton and is a frequent venue of the Portuguese Open.  It also has a significant number of residential land plots. 

It offers an opportunity to generate additional profit by re-structuring public areas; creating a new pool and spa; adding a dedicated conference centre and new golf suites.

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EDITOR’S INFORMATION
MK was founded in 1959 to provide specialist hotel real estate advisory services to the industry.  Working exclusively in the hotel sector, the company is one of the top three hotel real estate companies in the world, with 11 offices in the USA, Beijing, London, Shanghai and Mumbai.  Recent European assignments by the London office include the Great Eastern Hotel, London; Marriot Hotels in Prague, Budapest and Copenhagen; and Forte Village Resort in Sardinia, plus various properties in the UK, France, Portugal and Poland.

Press Enquiries:
Eric Kudlak, Molinaro Koger, +44 (0)207 290 5400, , http://www.mkhotels.com.
Caroline Murdoch, Redworks PR, +44 (0)1869 810 443,