Magnum Global Holdings Singapore Pte. Ltd. (Associate of MGM), owners of Petchey Leisure resorts, has announced the acquisition of Forte do Vale, a four-star resort in the Algarve.
The property is situated close to the RCI-affiliated Petchey Leisure resorts in Albufeira, and has a range of facilities including indoor and outdoor pools, Jacuzzi, SPA, state-of-the-art gymnasium, restaurant and bars. Accommodation takes the form of 125 air-conditioned, comfortable and contemporary designed self-catering apartments.
The Algarve is a highly sort after destination and the addition of this new resort is set to help meet that demand. It is also the first of several new properties that Magnum Global Holdings is looking to acquire as it expands its portfolio.