The Spanish company HIP (Hotel Investment Partners) has reached an agreement with Oxy Capital, by acquiring the first resort in Portugal, The Lake Spa Resort, in Vilamoura, a unit which used to be managed by Oxy Capital’s operator Blue & Green. The acquisition represents the group's second international operation, which invested in Greece, last September, purchasing five hotel units. HIP will invest in the transformation of this 5-star hotel with 192 rooms, an artificial lake, three restaurants and two bars. After the investment, HIP will change the hotel's brand and operator, decisions which are yet to be defined. «Portugal has always been among our target markets, thanks to its climate, gastronomy, infrastructure, culture and landscape. These factors make Portugal one of the best holiday destinations in Europe», said Alejandro Hernández Puértolas, HIP CEO.