The Hotel da Praia do Sol has been acquired by a group of private national and international investors, who will now transform it into the Hotel Paparica.

The transaction was conducted by Athena Advisers, which represented the buyers in the acquisition process of the former Hotel da Praia do Sol. In addition, the consultancy was responsible for the search and identification of the asset, the market research that assessed the financial viability of the project and also for setting up the club deal operation that allowed attracting investors and raising the capital necessary for the acquisition and renovation of the hotel.

“We are very pleased with the completion of this deal and for having been able to leverage all our know-how in the search for opportunities in this area and in setting up the entire operation to attract investors and financing for the purchase and renovation of the new Hotel Paparica”, said David Moura-George, general director of Athena Advisers Portugal. “Costa da Caparica is an increasingly dynamic tourist destination, attracting not only Lisbon residents and locals, but also a growing number of international residents and visitors, making it essential to improve and increase the region’s hotel offering.”

The renovation of the historic Hotel Praia do Sol will bring to Caparica an accessible hotel unit with 51 rooms, which aims to promote meetings between national and foreign visitors and the local community. Located on the main pedestrian artery of Costa da Caparica, Rua dos Pescadores, about 100 meters from the Atlantic Ocean, the renovated Hotel Paparica will have modern architecture inspired by the beach climate of the region.

Work on the hotel’s renovation has just begun and its development is being led by Matthieu Bégué, co-founder of the Maison Traversière boutique hotel in central Paris.

“With the development of Paparica, we want to create a new affordable hospitality destination in one of the most popular beach areas in the Lisbon region,” says Roman Carel, founder of Athena Advisers. “Paparica will be a surfing-related hotel with a modern and charming atmosphere that celebrates the Atlantic art of living that is so typical of Portugal and that aims to be open to the neighbourhood and the local community, bringing together Portuguese and foreigners in the heart of Caparica’s most emblematic street. This is our vision of quality for Portuguese tourism”.