British asset manager Arrow Global has completed the purchase of hotels and golf courses from the Dom Pedro Group in Portugal.

The assets include Dom Pedro Marina, Dom Pedro Vilamoura and Dom Pedro Portobelo in Vilamoura; Dom Pedro Lagos in Lagos; Dom Pedro Garajau and Dom Pedro Machico in Madeira.

The deal also includes five golf courses in Vilamoura: Laguna, Victoria, Millenium, Old Course and Pinhal.

The company intends to modernise and refurbish the hotels and golf courses to attract more customers and diversify the geographic base to markets, such as the Northern American market.

Arrow Global’s subsidiary Norfin Serviços managed the entirety of the purchase process.

Arrow Global Fund principal John Calvao said: “Acquired on behalf of funds managed by Arrow Global, the purchase of the Dom Pedro hotels significantly augments Arrow’s real estate assets under management and underscores the robust potential we see in this highly attractive destination.

“By bringing Dom Pedro assets under our management in conjunction with our previous acquisition of Vilamoura World, we express our unwavering dedication to positioning Vilamoura and Portugal as a leading global destination.”