Luxury hotel brand Domes Resorts will manage Lake Spa Resort in Vilamoura, Portugal, while Hotel Investment Partners (HIP) will spend €7 million upgrading and refurbishing the property.
The resort is owned by HIP, the largest owner of resort hotels in southern Europe, backed by funds managed by Blackstone.
Domes Resorts will convert the 192-room five-star hotel to a branded property as part of its international expansion.
All rooms and common areas will be refurbished and a new adults-only pool and pool bar will be created.
The property is expected to open as a Domes Resort in early 2022.
Domes Resorts also features Domes of Elounda, Autograph Collection; Domes Noruz Chania, Autograph Collection; Domes Miramare, a Luxury Collection Resort on Corfu; Domes Zeen Chania, a Luxury Collection Resort in Crete; and Domes of Corfu, Autograph Collection.