HIGHGATE EXPANDS EUROPEAN FOOTPRINT
(Adnkronos) - Company Launches HG Portugal and Grows Platform in the UK
LONDON, Jan. 11, 2023 /PRNewswire/ -- Highgate, a leading hotel management, investment, technology, and development company, has announced two significant European developments – the launch of HG Portugal and the relaunch of the Dorsett City London Hotel.
HG Portugal begins with a portfolio of 18 hotels spanning the Algarve, Lisbon, Porto, and several other markets throughout Portugal. The portfolio includes hotels operating within the Hilton and IHG brand families, as well as several noteworthy independent hotels such as Cascade Resort, Salgados Palace, and Sao Rafael Atlantico. The portfolio includes lifestyle boutique hotels, urban full-service hotels, waterfront luxury resorts, and large convention facilities, each of which draws from core competencies across Highgate's global portfolio.
As part of building a best-in-class operating capability in Portugal, Highgate has appointed Alexandre Solleiro as Chief Executive Officer of HG Portugal. Alexandre brings over 30 years of hospitality leadership experience in Portugal and is joined by a dedicated leadership team across all disciplines. Alexandre and the HG Portugal team will build off of Highgate's existing platforms and resources across Europe, the United States, the Caribbean and Latin America, while bringing dedicated Portugal-based experience.
Highgate brings to the Portugal market global experience as an owner/operator in leisure destination markets as well as in branded, lifestyle, and city-center hotels, and adds distinct value to its managed hotels through a platform designed to optimize operational efficiencies, distribution, and hotel concept development.
"This acquisition represents an excellent opportunity to add well-located assets to Highgate's platform and achieve immediate scale in a region that's experiencing exceptionally strong secular growth," said Nicholas Mellis, Vice President of Acquisitions and Development at Highgate. "We look forward to bringing to bear the capabilities and insights from Highgate's approximately 500-hotel management platform to launch this dedicated Portugal operating platform, and to continuing to scale across Europe."
The launch of HG Portugal comes on the heels of two portfolio additions in the UK market, announced in October 2021 – the Dorsett City London Hotel and Grosvenor House Suites in London's Mayfair District. Effective March 1, 2023, Highgate will also begin operating the Dorsett City London Hotel under a relaunched concept as part of a larger repositioning.
"The launch of HG Portugal complements Highgate's recent re-entry into the UK management space, furthering the application of our proven business towards strategic global opportunities," said Arash Azarbarzin, Chief Executive Officer of Highgate. "Honed over the last 30 years, we will apply our innovative approach to operations, distribution, food and beverage, branding, and positioning during a remarkable moment for Portugal, as more travelers are discovering its magnificence as a prime destination."
Highgate is a leading real estate investment and hospitality management company with over $20 billion of assets under management. Highgate has a 30-year track record as an investment manager, operating partner, and developer for REITs, private equity firms, sovereign wealth funds, high net worth individuals, and other institutional investors. With a particular focus in hospitality real estate, Highgate's portfolio includes over 500 owned and/or managed hotels comprising over 80,000 rooms across the United States, Europe, Latin America, and the Caribbean. Highgate's capabilities extend to adjacent real estate verticals including multifamily, short-term rentals, and diversified healthcare real estate, as well as investments in real estate-linked securities, technology platforms, and hospitality-related operating businesses. Highgate maintains corporate offices in London, New York, Dallas, Miami, Seattle, and Waikiki. For more information, visit: www.highgate.com
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