Portugal remains an attractive investment destination, and tourism assets stand out as a segment that moves millions. According to Cushman & Wakefield (C&W), hotel investment in Portugal should reach 720 million euros by the end of the year. Let's take a closer look at foreign investment in Portugal in 2023.
"Currently, there are around 720 million euros of hotel transactions in the pipeline, in different stages of negotiation, which are expected to be concluded by the end of this year," said Gonçalo Garcia, head of hospitality at Cushman & Wakefield Portugal, in statements. pay.
According to Garcia, "the investment pattern in the sector is usually more predominant in the second half of the year" and, for this reason, "the success observed in the volume of investment made in 2022 meant that the operations did not slip into the first months of this year".
By all indications, this year's investment will exceed 2019's figures, but will lag behind 2022, which saw a record 900 million euros of investment in the hotel industry by foreign investors, specifically from the sale of ECS Capital's real estate portfolio to Davidson Kempner Partners.
In the first four months of this year, 10 new hotels were opened in Portugal and, by December, the consultancy estimates 50 more openings. By 2025, there are 110 projects in the pipeline, with a total of 9,800 rooms, according to C&W.