The Baleira is currently closed for renovation.
There is the Albergaria dos Mareantes.
See: http://www.solpraiaferias.com/index.php?content=casas_en&town=003
and the Pensão Dom Henrique.
The only 4 star one I can think about is the Pousada!
You can find details here:
http://www.pousadas.pt/historicalhotels/PT/pousadas/Portugal/Algarve/Infante/home/
