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

Inaugurated in 1951, the Infante de Sagres was the first luxury hotel in the city of Porto, forming part of the city’s history.

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

Half a dozen years ago, the oldest 5-star hotel in Porto was acquired from the Júdice family by The Fladgate Partnership, owner of the Taylor’s, Fonseca, Croft and Krohn Port wine houses.

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

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

Asked by the newspaper about the value of the transaction, Adrian Bridge, CEO of the Fladgate Partnership, said only: “We sell with margins for us”.