The Oceânico Group has announced the sale of its five Vilamoura golf courses to KAY CC Portugal, a consortium led by English investor Keith Cousins and the Dom Pedro Hotels Group.
The deal includes the sale of Oceânico Golf, which owns Oceânico Old Course, Oceânico Pinhal, Oceânico Laguna, Oceânico Millennium and Oceânico Victoria, the world famous golf course that is in the final stages of preparing to host the Portugal Masters event between October 20 and 23.
The news was confirmed on Wednesday afternoon (September 21) as we went to press.
In April, Expresso newspaper reported that a €68 million bid had been presented for the Vilamoura courses by Keith Cousins, John Terry’s (Chelsea) football representative, and a group of English investors.
However, a spokesperson at Oceânico told us the group was not yet able to disclose the amount the courses had been sold for.
“We are happy to have completed the sale of the courses to KAY CC Portugal, and we are sure it will be a positive move for both parties, as well as all our clients and partners,” Christopher Howell, president of Oceânico Group’s administration board, said in a statement.
He added that “the portfolio of five golf courses in Vilamoura enjoy a unique and strategic position” in the Portuguese and European golf tourism market.
“We are certain that KAY CC will continue to positively bolster the business in the future,” Howell concluded.
The official statement adds that Oceânico Group and KAY CC believe the deal will lead to the “improvement of the existing infrastructures, as well as more international recognition for Vilamoura and the Algarve”.
It is yet unclear whether the consortium plans to carry out any changes or significant investments to the five golf courses.
Oceânico further confirmed that the sale does not include its other projects in the Algarve, such as the Belmar Spa & Beach Resort in Lagos and the Amendoeira Golf Resort in Alcantarilha..
What is KAY CC?
Kay CC is a new consortium created as a partnership between Keith Cousins and the Dom Pedro Hotels Group.
Cousins is known as an English businessman who co-runs Elite Management, a management agency for footballers. One of his most famous clients is English footballer John Terry.
Dom Pedro owns eight hotels in mainland Portugal, the Madeira archipelago and Brazil.
These include Dom Pedro Palace (Lisbon); Dom Pedro Golf Resort, Dom Pedro Marina and Dom Pedro Portobelo (all three in Vilamoura); Dom Pedro Meia Praia (Lagos), Dom Pedro Baía Club and Dom Pedro Garjau (Madeira) and Dom Pedro Laguna (Ceará, Brazil).
By MICHAEL BRUXO email@example.com