I have a long review of this hotel up today:
http://www.headforpoints.com/2016/06...rtugal-part-1/
And
http://www.headforpoints.com/2016/06...-hotel-review/
Note that IHG comped us the room but we paid all our other costs.
The woman who wrote it for me was genuinely very positive about the whole place (except for the instant coffee .... don't give a German instant coffee ....!).
Not sure if it will ever make much money at just 59 rooms and with a seasonal clientele but it looks like a quality option in a part of the world where the majority of rooms are bargain basement. Even the Ritz-Carlton a couple of miles away was a bit of a state when we went 5 years ago.