Sale plans confirmed

LUSOTUR GOLFES, the company that owns Vilamoura’s five golf courses, is considering several proposals from outside investors to buy the business.

André Jordan, president of the Board of Directors of Planfipsa SGPS, the company that owns Lusotur Golfes, said the company is analysing three or four proposals from Portuguese and international groups.

Due to the confidential nature of the sale he would not disclose who the interested parties were.

The André Jordan Group acquired control of Lusotur Golfes in 1996 and has continually expanded the company. As Jordan wishes to continue this expansion, he has not ruled out the possibility of another partner coming into Lusotur.

High numbers

There is also a chance that the current management team will continue to operate in Vilamoura, as Jordan does not intend to sell 100 per cent of the company.

Lusotur’s five golf courses attracted a total of 200,000 players between January and November 2006, becoming the first Portuguese golf company to record such a high number in less than one season.

These statistics are seen as proof of the success of the company’s strategy, which emphasises aggressive promotion and high quality courses, with particular focus on environmental management.

According to the executive director of Lusotur Golfes, António Henriques da Silva, in 2006, the five golf courses recorded a growth of 10.5 per cent in the number of rounds played and 11.5 per cent in the number of players.

Net profit

A statement released by Lusotur in November 2006, announced that their net profit was 1.7 million euros in the first nine months of 2006.

According to the Observatório do Algarve, the Irish group Oceânico Developments is one of the interested parties for the acquisition of Lusotur Golfes.

The company is currently constructing the Amendoeira Resort at Herdade das Lameiras in Silves, as well as owning several developments in Lagos.

The group has also invested in Costa de Prata in Setúbal, where it is building the Royal Obidos resort and golf club, and also in the Azores, where it is part of a consortium with the Siram group, that plan to transform the Batalha and Furnas golf clubs on the island of São Miguel into luxury tourist resorts.

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