A c. 369-key coastal hotel asset on the Algarve Coast is available for off-market acquisition at €57,570,000. Currently closed for a structural foundation overhaul — seismic, flood, and subsidence resilience works — with €30M capex to finish. Two prototype units are completed, demonstrating the aparthotel conversion format in practice. The asset lends itself to two clear repositioning strategies: completion as a premium aparthotel (studio to 3-bed units with kitchenettes) or conversion to a full-service lifestyle hotel. Existing amenity stack includes indoor and outdoor pools, spa, dual F&B outlets, and 500sqm of conference infrastructure. Integrated connection to an adjacent retail centre. Beachfront proximity, regional casino, marina, and international airport within the immediate catchment. Strong Algarve market fundamentals — 68-74% annual occupancy across 4-star stock, ADR €110-165. All c.369 keys available to the incoming owner. Approximately €30M of remaining works — scope and finish to be agreed with acquirer.