Vanguard Properties Reshapes Portfolio Amid Portugal’s Tourism Boom with €100M+ Luxury Asset Sales in Comporta and Algarve
LISBON, Portugal — July 2025
Amid a record-breaking surge in tourism and an increasingly competitive hotel market, Vanguard Properties, one of Portugal’s largest real estate developers, is strategically repositioning its portfolio. The company is set to divest four high-end hotels and branded residences currently under development in Comporta, as well as 20 premium apartments in the Algarve, capitalizing on surging international interest in Portugal’s luxury coastal destinations.
The developer’s bold move aligns with a broader trend of foreign investment flooding the Portuguese hotel and hospitality market. According to Turismo de Portugal and recent data by Cushman & Wakefield, 2024 saw a 28% increase in commercial real estate investment in Portugal, totaling €2.2 billion. Notably, 74% of this investment came from foreign buyers, with nearly €440 million directed toward hotel assets alone.
Targeting Comporta’s Global Appeal
Vanguard’s most prominent assets currently up for sale include four properties under construction in Comporta, a highly exclusive resort town located just 90 minutes south of Lisbon. Known for its pristine beaches, rice fields, and understated luxury, Comporta has become a magnet for international elites—including celebrities and European royalty—making it a prime target for upscale tourism development.
Each of the Comporta projects is designed to feature 70 to 150 hotel rooms and 50 to 90 branded residences, offering a blend of high-end hospitality and real estate investment opportunity. According to Vanguard CEO José Cardoso Botelho, the sale could fetch “hundreds of millions of euros” as global investors seek rare beachfront developments in Europe’s most promising tourism hubs.
To facilitate the transaction, Vanguard has appointed Alantra, a global financial advisory firm, to manage negotiations and structure deals. The company expects all sales to close by 2026, marking a significant step in its evolving growth strategy.
Algarve Divestments Follow Planning Delays
In the southern Algarve region, Vanguard is also preparing to sell 20 newly built apartments originally envisioned as part of a larger hospitality and residential project. Although the company had intended to expand its footprint in the Algarve, local licensing delays prompted a reassessment.
Still, the decision to sell is not financially motivated. On the contrary, Vanguard states it currently maintains its lowest debt levels since 2018, a sign of operational strength and financial discipline. “We are not divesting out of necessity,” said Botelho. “This is a strategic pivot to align with market conditions and maximize value creation.”
Tourism Boom Drives Investor Confidence
Portugal continues to ride the wave of a post-pandemic travel resurgence. The country welcomed 31.6 million international visitors in 2024, setting a national tourism record. Popular destinations like Lisbon, Porto, the Algarve, and Alentejo—where Comporta is located—have experienced unprecedented occupancy levels and room rate increases.
The country’s growing appeal is reflected in high-profile transactions. In 2024, Brazilian investment bank BTG Pactual acquired a €150 million luxury hotel project near the future Lisbon home of football legend Cristiano Ronaldo. Similarly, UK-based Arrow Global purchased two hotels, a marina, and a golf course in the Troia Peninsula, adjacent to Comporta.
Despite rising European Central Bank (ECB) interest rates over the past two years, Portugal’s hospitality sector has remained resilient. Analysts attribute this to the industry’s ability to pass rising costs on to consumers through higher room rates. In this climate, hotel properties have emerged as some of the most stable and profitable investment options in Europe.
Refocusing on Residential Expansion
Vanguard’s asset repositioning comes nearly a decade after the company’s founding by Swiss-French billionaire Claude Berda, a former media magnate, and his business partner, José Cardoso Botelho. Since entering the Portuguese market in the wake of the 2008 financial crisis, Vanguard has built a portfolio exceeding €1.2 billion, including residential, tourism, and mixed-use developments.
With strong fundamentals in place, the company plans to sharpen its focus on high-demand residential real estate—particularly in urban areas and secondary coastal locations. This strategic refocus coincides with Portugal’s housing shortage, especially in Lisbon and Porto, where demand continues to outpace supply due to local population growth and remote worker inflows.
Portugal’s Outlook Remains Strong
Looking ahead, industry analysts forecast sustained tourism growth for Portugal, driven by favorable visa policies, EU investment incentives, and its position as one of the safest countries in Europe. The Portuguese government recently reaffirmed its commitment to boosting tourism infrastructure through its “Turismo 2027” strategic plan, which aims to expand year-round travel, sustainable tourism practices, and premium offerings.
As Portugal cements its status as a global tourism and investment hotspot, Vanguard Properties appears well-positioned to remain a key influencer. By divesting strategically and reinvesting in targeted residential sectors, the developer is not only adapting to changing market dynamics but also helping shape the future of Portugal’s real estate landscape.
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