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Asian owner of Palácio das Cardosas buys the oldest 5-star hotel in Porto - Turismo & Lazer

Asian owner of Palácio das Cardosas buys the oldest 5-star hotel in Porto – Turismo & Lazer

Opened in 1951, the Infante de Sagres was Porto’s first luxury hotel, and forms part of the city’s history.

Located on Praça D. Filipa de Lencastre, right in the heart of downtown Porto, Infante de Sagres has hosted dignitaries such as Dalai Lama, Bob Dylan, U2, Catherine Deneuve, Kings of Norway, Queen Beatrix of the Netherlands and Prince Edward of England.

Half a dozen years ago, Porto’s oldest five-star hotel was purchased from the Júdice family by the Fladgate Partnership, which owns wine houses in Taylor, Fonseca, Croft, and Crown Port.

Present in Portugal since 1692, the Fladgate Partnership also owns The Yeatman Hotels, in Gaia, and Vintage House, in Pinhão, as well as the World of Wine (WoW), the new cultural quarter installed in Port’s old wine cellars. Croft and Taylor, in the historic center of Gaya, which resulted in an investment of more than 100 million euros.

However, Infante de Sagres, which reopened in 2018 after an investment of 8.5 million euros, has now been sold by Fladgate Partnership to Gaw Capital, Asian investors who also own InterContinental Palácio das Cardosas, in Porto, reveals Dinheiro Vivo.

Asked the newspaper about the value of the deal, Adrian Bridge, CEO of the Fladgate Partnership only, said: “We sell to us at margins.”

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