Asian owner of Palácio das Cardosas buys Porto’s oldest 5-star hotel – Turismo & Lazer

Inaugurated in 1951, the Infanta de Sagres was the first luxury hotel in the city of Porto, becoming part of the city’s history.

Located on Praça D. Filipa de Lencastre, in the heart of downtown Porto, the Infanta of Sagres has hosted personalities such as the Dalai Lama, Bob Dylan, the U2, Catherine Deneuve, the Kings of Norway, the Queen Beatrix of the Netherlands and Prince Edward of England.

Half a dozen years ago Porto’s oldest 5-star hotel was acquired from the Júdice family by The Fladgate Partnership, owners of Taylor’s, Fonseca, Croft and Krohn Port wine houses.

Present in Portugal since 1692, the Fladgate Partnership also owns The Yeatman hotels, in Gaia, and the Vintage House, in Pinhão, as well as the World of Wine (WoW), the new cultural district located in the old Port wine cellars . Croft and Taylor’s, in the historic center of Gaia, which resulted from an investment of more than 100 million euros.

However, the Infanta de Sagres, which reopened in 2018 after an investment of 8.5 million euros, has just been sold by the Fladgate Partnership to Gaw Capital, Asian investors who also own the InterContinental Palácio das Cardosas , in Porto, reveals Dinheiro Vivo. .

Asked by the newspaper about the value of the transaction, Adrian Bridge, CEO of the Fladgate Partnership, simply replied: “We sell with margins for us”.

Add Comment