Oceânico Group Announces Sale of its Ownership Stake in Oceânico Golf
Story published at 10:10, Thursday, September 22nd, 2016
Page last updated at 1:34 am, Friday, September 23rd, 2016
As golf enthusiasts from across Europe continue to make the Algarve one of the world’s most loved golf destinations, The Oceânico Group is pleased to announce that, advised by Savills, it has sold its full interest and ownership in Oceânico Golf, Vilamoura, to KAY CC Portugal, a partnership between Mr. Keith Cousins and the Dom Pedro Hotels Group.
Oceânico Golf, is the owner and operator of five of Vilamoura’s best known courses – The Victoria Course, The Old Course, Pinhal, Millennium and Laguna courses – with The Victoria Course under-going final preparations for the hosting of the 10th edition of The European Tour’s Portugal Masters from October 20th-23rd.
Christopher Howell, Chairman of The Oceânico Group, commented, “We are pleased to have concluded the sale process of our successful Oceânico Golf business with Kay CC, and what we are sure will be a positive move for both parties as well as golf enthusiasts across Europe. The five golf courses within the Oceânico Golf portfolio hold a unique position within European golf tourism, and we are sure that Kay CC will continue to positively drive the business forward.”
Ian Simpson, director at Savills, says: ‘The strong interest expressed in this internationally recognised group of golf courses was a reflection of its location in the Algarve, one of continental Europe’s most favoured golf tourism destinations, as well as the quality of the golf development and strength of the business built up by the Oceânico Group over a number of years.”
The Oceânico Group and KAY CC Portugal welcome the success seen with this transaction and are confident that it will positively contribute to enhance the quality of the development as well as increase the international recognition of Vilamoura in the Algarve, one of Continental Europe’s most loved and best equipped golf tourism destinations.
The Oceânico Group will maintain ownership and management of its two other Championship courses, Oceânico Faldo and Oceânico O’Connor Jnr at the Amendoeira Golf Resort in Alcantarilha Silves.
Oceânico Group www.oceanicogolf.com