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Portugal: Investment firm EXTENDAM and hotel management company Highgate have partnered to acquire the Hilton Porto Gaia, a 194-room, five-star hotel located on the banks of the Douro River.
Opened in 2021 and acquired from funds advised by ECS, the property features 47 suites, a fine dining restaurant, rooftop bar, wellness centre, 10 meeting rooms and a 350-seat auditorium. It holds both an A-rated energy certificate and the Biosphere Responsible Tourism certification.
The asset sits in Vila Nova de Gaia, an area undergoing significant redevelopment and known internationally for its port wine cellars.
The hotel is franchised under the Hilton brand and will be managed by Highgate, which already operates a portfolio of properties across Portugal, including resorts and full-service hotels.
Maxime Durand and Victor Burgund from EXTENDAM said: “The Hilton Porto Gaia acquisition is fully aligned with our strategy: investing in premium, well-located assets in dynamic markets, at attractive entry points. Overlooking the Douro and operated by Highgate, a leading management company, the property already demonstrates solid results with substantial potential for further growth. We are confident it will fully benefit from Porto’s positive market trajectory and the strength and visibility of the Hilton network.”
Nicholas Mellis, vice president of acquisitions at Highgate said: “We are proud to partner with EXTENDAM on the Hilton Porto Gaia. Together, we look forward to building on the property’s strengths and delivering best-in-class operations that support the hotels’ continued success.”
Highlights:
• EXTENDAM and Highgate have acquired the Hilton Porto Gaia, a 194-room five-star hotel.
• The property opened in 2021 and includes 47 suites, restaurants, bars, a rooftop, spa, fitness centre, and extensive MICE facilities.
• Highgate will manage the hotel under the Hilton brand.
• The acquisition marks the first partnership between EXTENDAM and Highgate.
