Hotel for sale Albufeira

This well maintained hotel was one of the first hotels to open in Albufeira (Algarve), Portugal. It is located in an elevated position boasting beautiful views over the bay towards Vilamoura and Faro. All amenities, including the beach (which can be reached by elevator), the Old Town and the marina can be reached within 5-10 minutes’ walk.

There are currently 41 rooms in 3 adjoining buildings set amongst mature gardens, including several terraces and a swimming pool deck.

On street level there is a restaurant and English pub with direct access, currently not in operation. Also, there are two other commercial spaces, one letted as a hairdressing salon and the other space used as a studio.

The hotel offers potential as a boutique (adult-only) hotel. Raising exclusivity, the current rooms at the back of the hotel could be joined with ones on the front creating a number of suites. This will give all rooms and suites (reduced to 28 in total) a front view, most with ocean views.

The restaurant and bar facilities can either be let out to a third party or be upgraded. Possibilities include a co-working space and bar/restaurant-lounge, currently not available in Albufeira. This would also be beneficial to running the hotel all-year. The hotel was run as a seasonal property.

Other facilities include a reception and lounge area, reception desk and offices. A single room, the separate studio and another interior room can be used as owner/employees accomodation. At the swimming pool there are changing rooms and toilets. Laundry room, utility room, and employee changing rooms available.

Asking price: €4,500,000 negotiable. Favorable loans available at the current owner’s bank.

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