The Carlyle Group is nearing the sale of the Penha Longa Resort & Hotel, one of Portugal’s most iconic properties in the hills of Sintra, according to people familiar with the matter. The US buyout firm is in talks with L Catterton , an investment vehicle backed by French luxury conglomerate LVMH, in partnership with Cedar Capital Partners , the people said, asking not to be identified because the...
The Carlyle Group is nearing the sale of the Penha Longa Resort & Hotel, one of Portugal’s most iconic properties in the hills of Sintra, according to people familiar with the matter. The US buyout firm is in talks with L Catterton , an investment vehicle backed by French luxury conglomerate LVMH, in partnership with Cedar Capital Partners , the people said, asking not to be identified because the discussions are private. Talks are ongoing and no deal has been finalized, they said. Carlyle acquired the Penha Longa resort in 2018. The deal valued the property at about €120 million ($140 million) at the time, according to one person familiar with the transaction. One of Portugal’s most high-profile hospitality assets, Penha Longa is best known for its Ritz-Carlton hotel in Sintra and for hosting the European Central Bank’s annual policy retreat, an event that regularly draws global attention to both the property and the region. Representatives for Carlyle and Lisbon-based Refundos Explorer, which holds a minority stake in the resort, declined to comment on the deal. Spokespeople for Cedar Capital, a London-based hospitality investment firm focused on luxury and lifestyle hotels across Europe and the US, and for L Catterton also declined to comment. The sale comes as investor appetite for luxury hotels in Portugal continues to rise. The country has been one of the strongest-performing tourism markets in southern Europe, supported by record visitor numbers, higher-spending travelers and a limited supply of large branded resort assets. The palazzo-style estate, located in a natural park, is currently operated by The Ritz-Carlton, a unit of Marriott International Inc. It comprises 204 hotel rooms, apartments, and luxury suites. It also has a tennis and padel club, a wellness center, and a championship golf course designed by Robert Trent Jones Jr. , whose work includes Valderrama in Spain and Chambers Bay in the US. Tourism revenue probably reached a record of about €30 b...
Tesla Cuts Berlin Gigafactory Workforce By 1,700 Employees Tesla’s workforce at its Gigafactory near Berlin has fallen by about 1,700 employees, according to a report by Germany’s Handelsblatt . An internal document cited by the paper shows the Gruenheide site—Tesla’s only European production hub—now employs 10,703 people, a decline of roughly 14% from staffing levels disclosed ahead of works coun...
Tesla Cuts Berlin Gigafactory Workforce By 1,700 Employees Tesla’s workforce at its Gigafactory near Berlin has fallen by about 1,700 employees, according to a report by Germany’s Handelsblatt . An internal document cited by the paper shows the Gruenheide site—Tesla’s only European production hub—now employs 10,703 people, a decline of roughly 14% from staffing levels disclosed ahead of works council elections in 2024. The company did not immediately comment, according to Handelsblatt . The reduction follows CEO Elon Musk’s April 2024 announcement that Tesla would cut more than 10% of its global workforce to curb costs and boost productivity. The move also fits a broader pattern in early 2026, as manufacturers and technology firms continue to streamline operations amid slower demand growth, tighter financing conditions, and a push to protect margins after several years of aggressive expansion. In 2025, Tesla spent much of the year shifting from rapid expansion to consolidation. Management emphasized cost control, factory efficiency, and cash preservation as aggressive price cuts and softer demand compressed automotive margins. Even as its traditional auto operations lost momentum, Tesla’s stock has been relatively resilient. Investors have increasingly focused on the company’s longer-term ambitions in robotaxi services, autonomous driving software, and artificial intelligence, viewing these as potential high-margin growth engines. That optimism has helped support the share price despite slowing vehicle sales and a wider backdrop of job cuts across manufacturing and technology in 2026, as companies adjust to weaker growth and higher financing costs. Tyler Durden Thu, 01/22/2026 - 02:45