Vanguard sells hotels amid Portugal’s tourism boom

Porto, Portugal © Nick Karvounis / Unsplash
Portugal’s Vanguard Properties is selling four hotels in Comporta as the country’s tourism hits record highs

Lisbon-based real estate developer Vanguard Properties is seizing the moment as Portugal’s tourism sector continues to smash records. It has announced plans to sell four hotels and branded residences currently under development in Comporta. Known for its pristine beaches and exclusive atmosphere, Comporta is a prime location for high-end hospitality investments.

Strategic shift amid investor frenzy

The decision to sell comes as part of Vanguard’s broader strategy to refocus its portfolio on Portugal’s residential market. The company, cofounded nearly a decade ago by Swiss–French billionaire Claude Berda and CEO José Cardoso Botelho, has grown into one of the country’s largest developers, with an investment portfolio exceeding €1.2 billion.

Vanguard is targeting a valuation in the “hundreds of millions of euros,” said José Cardoso Botelho, for the Comporta properties, each of which will feature between 70 and 150 hotel rooms and 50 to 90 branded residences.

Vanguard’s move is well-timed. The Portuguese hotel sector has demonstrated remarkable resilience, even as rising interest rates since 2022 have challenged the broader European real estate market.

In 2024 alone, Portugal welcomed a record 31.6 million tourists, with commercial property investment rising 28% to €2.2 billion—of which hotels accounted for about a fifth. Foreign investors made up 74% of total investment in the sector, underscoring Portugal’s growing international appeal.

Portfolio refocus and strong financials

Vanguard expects to finalize the sale of the Comporta hotels by 2026 and has enlisted financial services firm Alantra to assist with the transactions. The company is also planning to sell 20 apartments in the Algarve region, citing licensing delays that affected the project’s original strategy. CEO José Cardoso Botelho emphasized that these asset sales are not a reflection of financial strain, noting that Vanguard’s debt levels are at their lowest since 2018.

“The tourism sector is experiencing strong growth, both in Portugal and across key international markets,” said Vanguard’s Botelho. “This is the ideal moment to proceed with asset sales.”

Ikos adds Crete resort

Ikos continues to set new standards across the Mediterranean with its luxury resort developments...

Leonardo Hotels expands in Hanover

On July 1st, Leonardo Hotels expanded its presence in Hanover by acquiring two hotels from Essendi...

Spanish tourism sector set for strong growth

Research carried out by WTTC says Spain's tourism sector will continue to grow over the next decade...