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Owners of Louis Vuitton buy ECB meeting point in Portugal in a multi-million euro deal. L Catterton, an investment vehicle backed by the French luxury group LVMH, owner of Louis Vuitton, and Cedar Capital Partners have acquired Penha Longa Resort. André Manuel Mendes March 27, 2026 14:20 L Catterton, an investment vehicle backed by the French luxury group LVMH, owner of Louis Vuitton, and Cedar Capital Partners announced the launch of a new luxury hospitality investment platform focused on Europe and North America, marking their entry into Portugal with the acquisition of Penha Longa Resort. The unit was owned by the American fund The Carlyle Group, which acquired Penha Longa in 2018 in a transaction valuing the asset at around 120 million euros. Considered one of Portugal's most iconic hotel assets, the resort is known for the Ritz-Carlton Sintra hotel and for hosting the European Central Bank's annual monetary policy retreat, an event that attracts international attention to the property and region. The resort has 204 rooms and is set within a property of about 220 hectares, including two championship golf courses, Michelin-starred dining, an award-winning spa, and a country club. The transaction value was not disclosed; however, the property is currently valued at 140 million euros. The operation is part of a joint venture between the two entities, which aims to build a portfolio of 10 to 15 iconic assets in the five-star segment, betting on a strategy of acquisition, transformation, and repositioning of units in premium urban and leisure destinations. This acquisition comes at a time when Portugal continues to establish itself as an excellent destination for luxury tourism, benefiting from growing international demand and still limited supply in this segment, creating opportunities for asset value enhancement strategies. In addition to Portugal, the joint venture also completed the purchase of the Garden Beach Hotel on the French Riviera, reinforcing its ambition to create a differentiated platform in the luxury hospitality sector. Quoted in a statement, Mathieu Le Bozec, managing partner and founder of L Catterton's real estate division, emphasized that the partnership allows combining consumer knowledge with real estate capabilities, leveraging the structural growth of global luxury tourism. Meanwhile, Ramsey Mankarious, CEO of Cedar, highlighted the potential to 'unlock value' in unique properties and create differentiated experiences for guests in key destinations.

L Catterton Real Estate and Cedar Capital Partners launch strategic luxury hospitality platform with two iconic luxury hotel acquisitions in france and portugal. PR Newswire Today at 1:15pm PDT PARIS and LONDON, March 26, 2026 /PRNewswire/ - Cedar Capital Partners ("Cedar") and L Catterton Real Estate ("LCRE") today announced the launch of a strategic joint venture to build a leading luxury hospitality platform across Europe and North America. The partnership will pursue a value-add investment strategy focused on the acquisition, transformation, and repositioning of iconic five-star and luxury hotels in prime urban and resort destinations. The platform is designed to capitalize on strong secular growth in global luxury travel demand and a structural supply-demand imbalance in the high-end hospitality segment. The joint venture aims to assemble a curated portfolio of 10-15 landmark assets. Mathieu Le Bozec, Managing Partner and Founder of L Catterton Real Estate, said: "We see a compelling opportunity to build a differentiated luxury hospitality platform by combining our deep consumer insight and real estate capabilities with Cedar's sector expertise. This partnership is well positioned to capitalize on strong tailwinds in global luxury travel and to create significant long-term value through the repositioning of iconic assets in highly sought-after destinations." Ramsey Mankarious, Founder and Chief Executive Officer of Cedar, added: "We are excited to partner with L Catterton Real Estate to pursue a targeted and scalable strategy in the luxury hospitality sector. With a shared vision and complementary expertise, we believe this platform will enable us to unlock the full potential of unique properties and deliver exceptional experiences for guests in key destinations across Europe and the United States." As part of the platform launch, the joint venture has completed its first two acquisitions: * Garden Beach Hotel, a 177-key beachfront property located in Juan-les-Pins (Antibes, French Riviera). Currently closed, the hotel represents a rare seafront repositioning opportunity and is expected to be redeveloped into one of the Riviera's flagship luxury destinations. * Penha Longa Resort, a Ritz-Carlton property, an iconic 204-key luxury resort situated within the Sintra-Cascais Natural Park, approximately 25 minutes from Lisbon Airport. Set across a 220-hectare estate, the property features a broad range of amenities, including two championship golf courses, Michelin-starred dining, an award-winning spa, and a country club. About L Catterton Real Estate L Catterton is a market-leading consumer-focused investment firm, managing approximately $40 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. The firm's funds have the ability to invest between $5 million and $5 billion, across the capital structure, in well-positioned consumer businesses. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 18 offices partners with management teams to drive differentiated value creation across its portfolio. L Catterton Real Estate seeks to generate attractive risk-adjusted returns by investing in landmark hospitality destinations and developing high-quality, luxury retail-driven, mixed-use real estate in premium locations globally, building close and long-term partnerships with premier local developers. LCRE provides differentiated operating and strategic support to its partners, all focused on enhancing value and investment returns to the benefit of all stakeholders. Some notable projects include Ginza SIX in Ginza Tokyo and the Miami Design District in Miami. For more information about L Catterton, please visit lcatterton.com. About Cedar Capital Partners Cedar Capital Partners is a leading hospitality investment firm specializing in luxury and lifestyle hotels. Founded in 2004, the firm has invested over $5 billion globally, delivering consistent performance and value creation across market cycles. Its principals bring deep expertise spanning acquisitions, finance, development, and operations, with experience across nearly every major hotel market worldwide. For more information about Cedar, please visit https://www.cedarcp.com Media Contacts SOURCE L Catterton This is a paid placement. For further inquiries, please contact PR Newswire directly.