Quinta do Vale Golf Resorts Attempting to Save Its Projects

Published on 9th January, 2013

Quinta do Vale Golf Resorts, the company that is facing bankruptcy because of significant bank debts, is setting a plan in motion to save its projects and to continue the development of golf tourism in the Algarve region.

The new Quinta do Vale Golf Resorts administration is planning to renegotiate the bank debt and to come up with a unique brand that puts together all of the Lower Guardiana golf courses. According to the administration, golf courses and beaches are two of Algarve’s biggest assets that have to be developed even further.

Quinta do Vale Golf Resorts representative Angel Losada said that real estate investments are the ones leading to bankruptcy in a world of tough economic conditions and global crisis. A number of projects that are worth a lot have been started but the drawbacks in the real estate niche have made it impossible for the company to repay its bank debts.

Losada is the person in charge of the attempts to save the Algarve golf courses, including the Castro Marim golf course. According to him, it is only in the interest of the bank to reach a compromise and to make the execution of all the projects possible. “It makes no sense to repossess when there are only a few years left until we grow again, they will compromise something that can generate wealth,” Losada said.

Quinta do Vale Golf Resorts is currently working with representatives of other golf courses in the East Algarve region. Such a mutual effort will allow for the creation of a golf brand that may rival other similar developments in the area.

Castro Marim golf course is located near the historic town of Castro Marim. It comes with interesting design and strategically placed water obstacles that make the game more challenging. The course was founded in 2001, featuring 27 holes, a resort and properties for sale.

Castro Marim, Monte Rei and several other golf resort developments are all financed by the same bank. The new brand is an attempt to transform the trend of direct competition between the resorts and to make them work together in an attempt to salvage the Algarve golf tourism developments.

Similar attempts for golf brand creation have already been successfully accomplished by Quinta do Lago and Vale do Lobo, which Quinta do Vale Golf Resorts considers its most significant competitors.

One of the new options available to golfers in an attempt to revive the Algarve golf resorts is the special package. It will enable golfers to enjoy all of the resorts that are located close to each other and are joined under the same brand. Devoted golfers prefer to change the courses and the new package will ensure their stay in the Algarve region for a longer period of time, Losada said.

Published in: Guide to Portugal / Travel