Denis O’Brien has acquired the Conrad Algarve in Quinta do Lago, Portugal, for €200m, reinforcing a business presence in the region where he has managed the Quinta do Lago golf resort since 1998.
The Conrad Algarve features 134 rooms and 20 suites, alongside luxury amenities such as a spa, gym, and several dining options, including the Michelin-starred restaurant Gusto by chef Heinz Beck.
This acquisition follows O’Brien’s recent divestments of various Irish business interests and comes amid positive financial results, with profits for the company managing his golf resort increasing to £4.13 million (€4.96 million) last year.
Despite the overall success at Quinta do Lago, another of O’Brien’s entities, Catalunya Golf Ltd, reported a pre-tax loss of £761,915 last year, mainly due to adverse foreign exchange fluctuations, contrasting with a profit from the previous year.
