French hotel group Accor has confirmed the sale of the Novotel Vermar hotel in Portugal to local hospitality company Axis. An Accor spokesperson said that the sale agreement was signed on January 29. The companies agreed not to disclose the transaction price.

The four-star property offering 208 rooms is located in Póvoa de Varzim, Northern Portugal and will be re-named Axis Vermar. The hotel also includes a swimming pool, tennis courts, bar and restaurants as well as conference rooms housing up to 1,080 persons.

With the acquisition, the Axis Group strengthens its presence in the north of the country where it already owns hotels in the cities of Porto, Ofir, Viana do Castelo and Ponte de Lima with altogether 1,344 rooms.