Renowned Portuguese hotel undergoes significant renovation
Private investors, both national and international, have completed the acquisition of the Hotel da Praia do Sol in Costa da Caparica, Portugal. The former hotel will now be transformed into the Hotel Paparica.
Athena Advisers, a consultancy firm, brokered the deal and played a significant role in the transaction, representing the buyers throughout the acquisition process. They were also responsible for identifying the asset, conducting market research, evaluating financial viability, and executing the club deal operation to attract investors and secure the necessary capital for the acquisition and renovation of the hotel.
David Moura-George, General Director of Athena Advisers Portugal, expressed his satisfaction with the deal's completion. He noted that Costa da Caparica is an increasingly popular tourist destination, attracting a growing number of domestic and international visitors, which makes improving and expanding the region's hotel offering crucial.
The renovated Hotel Paparica, to be located on Rua dos Pescadores, will feature 51 rooms, aimed at fostering interactions between national and international tourists and the local community. The hotel's architecture will draw inspiration from the region's beach climate, promising a modern design.
Matthieu Bégué, co-founder of the boutique hotel Maison Traversière in central Paris, will lead the hotel's renovation efforts. The stated vision for Hotel Paparica is to create an affordable hospitality destination in one of the most popular beach areas in the Lisbon region, offering a surfing-focused atmosphere with a modern and charming ambiance.
Athena Advisers' role in property transactions has not been extensively documented in public records, primarily focused on the firm's work with elite athletes and sports professionals rather than real estate acquisitions. However, it is worth noting that Athena Advisers is not Athenahealth, a healthcare services provider, nor Athena Capital LLC, a financial services company, both of which operate independently.
Tourism in Costa da Caparica, Portugal is expected to receive a boost with the renovation of the Hotel Paparica, offering a surfing-focused atmosphere and modern design. This hotel, once a home-and-garden property, will transition into a destination for travelers seeking a unique lifestyle experience in one of the popular beach areas in the Lisbon region.
