Domes Resorts has continued its rapid expansion with a deal to manage the Lake Spa Resort in Portugal.
The property has been acquired by Hotel Investment Partners (HIP), the largest owner of resort hotels in southern Europe, backed by funds managed by Blackstone.
The iconic 192 room five-star hotel, boasting direct access to the beach on the bay of Vilamoura, will be fully converted into an internationally branded property by Domes Resorts.
After a very successful 2021, which saw the repositioning and opening of a completely renovated Domes of Corfu, Autograph Collection, Domes Resorts said it was delighted to once again partner with HIP and strengthen its presence in Europe with the much-anticipated early 2022 opening of the Lake Spa Resort in Algarve.
The project – a €7 million investment – will see the upgrade and transformation of the property through a complete refurbishment of all rooms and common areas – including the creation of a new adults-only pool and pool bar – and a rebranding of all Food & Beverage outlets which will be replaced with signature Domes dining concepts.
Domes is one of the fastest growing luxury hotel brands in the Mediterranean.