Madrid-based Azora has completed the final close of its latest pan-European hospitality fund, Azora European Hotel & Lodging (Azora EH&L), with €815 million in total commitments — plus some additional co-investment capital.

Azora EH&L invests in European tourism and will focus both in traditional beach and mountain destinations, as well as in the main European tourist cities. The vehicle has established a seed portfolio of four transactions, including two flagship hotels in the Algarve region in Portugal, the Arenas Resort Giverola in Costa Brava and the luxury five-star Vilalara Thalassa Resort hotel in the Algarve region.

“Throughout the pandemic we maintained our long-held conviction on the European leisure hotel and resorts market, which has already allowed us to build a significant high-quality portfolio and to position our fund ahead of competitors, with a strong pipeline of future opportunities,” says Concha Osácar, founding partner at Azora